According to ESPN Brazil journalist Felipe Silva, Martins's representatives are currently "evaluating the conditions" of Coventry's proposal. A decision has not yet been made.
The offer from Coventry arrives at a moment when Botafogo are openly willing to sell. The Rio de Janeiro club paid €10 million to Udinese to sign Martins permanently in July 2024, but have since faced financial difficulties — including a FIFA transfer ban related to unpaid fees from a separate signing — and need to generate income.
Their minimum price is €8 million, which the Coventry proposal is understood to be working toward, though the specific figure has not been confirmed.
A Turkish club also submitted an offer of €4.5 million. Botafogo dismissed it immediately.
Martins, 22, is a left-sided winger who can also operate through the middle. He joined Botafogo's youth system at Fluminense before being sold to Udinese and immediately loaned to Watford, where he spent 18 months across two seasons — 2022-23 and 2023-24 — making 55 appearances and scoring six goals in the Championship.
His Premier League experience is limited to that lower-division context, but Coventry's hierarchy are understood to view his Brazilian Serie A form — four goals in the current campaign — alongside his existing knowledge of European football as a combination that reduces the adaptation risk.
Other clubs monitoring the situation include Feyenoord, Krasnodar, Celta de Vigo and Real Betis. None has submitted a formal offer matching or exceeding Botafogo's stated price.
Martins is contracted to Botafogo until December 2028, giving the Brazilian club significant control over the negotiation. With the summer window not formally opening until July 22, the process is still in its early stages.
Coventry's interest is no longer just scouting. They have made their move.