Everton in £5m hunt for successor to David Moyes with Roberto Martinez and Mark Hughes among those linked

Toffees are searching for a manager for the first time in over 11 years

Mark Hughes: Ex-Everton player was quick to throw his hat into the ring (Getty Images)

Everton could face having to pay more than £5 million in compensation if they choose to lure a manager from one of their rivals as the successor to David Moyes.

The former Manchester City and Fulham manager – and ex-Everton player – Mark Hughes, who is out of work and would come without a battle with another club, signalled his interest in the forthcoming vacancy.

But Malky Mackay, in charge at newly promoted Cardiff City; Swansea's Michael Laudrup; and Roberto Martinez at Wigan are also strong contenders and would come at a significant cost.

Laudrup's employers are thought to have suggested they may look for as much as £10m if Everton tried to poach their manager, and the chairman at Goodison, Bill Kenwright, has been warned off by his counterparts at Wigan and Swansea, Dave Whelan and Huw Jenkins.

Any finalised compensation figure would be the result of negotiation and is likely to be considerably lower than any initial figures being floated, but it is clear that Kenwright is set for a tough battle if his club go for a manager already in a job.

Whelan said: "It's a case of, would Roberto choose to go to Everton or would he wait for one of the really big clubs? I'm not degrading Everton in any way, shape or form – they're a great club with great supporters – but is Everton regarded as one of the top European clubs? Well, unfortunately they're not."

Martinez was non-committal on the possibility of a move, saying he was concentrating only on Wigan until the end of the season. But Hughes made his interest clear, saying: "Everton are a great club and I really enjoyed my time there. It is a really big club and really big shoes to fill. I back myself for most jobs in the Premier League. Everybody wants to work in the Premier League."

Kenwright echoed Hughes' sentiments after paying tribute to the job Moyes did at the club over the past 11 years, and he indicated the search for a replacement was not advanced. "I made an instant decision when I met David – I don't think that can happen this time," he said. "We have got to be out there looking to see what kind of candidates can take the club forward. It is my job to build on what David brought."