Dean Smith wants to bring in a new goalkeeper and an agreement has been reached with Arsenal, who were demanding £20m for Martinez.
Aston Villa will pay Arsenal £16m for Martinez, but the deal will contain a number of add-ons which mean that the Gunners could eventually bank £20m for the shot-stopper.
Martinez is keen to play regular football and is likely to have that opportunity at Villa Park in the new campaign.
The structure of the deal also means that Aston Villa now still have the funds to continue their pursuit of Werder Bremen star Rashica.
Werder Bremen are prepared to sell the winger for the right price and Villa are one of a number of clubs keen.
RB Leipzig want to keep Rashica in Germany, but are reluctant to meet Werder Bremen’s asking price, while Leeds United have also been credited with an interest.
With Martinez in through the door at Villa Park, Aston Villa are now free to step up their pursuit of Rashica as they look to win the race for his services.
