Terry is scheduled to meet England coach Fabio Capello after allegations he had an affair with the former girlfriend of international and ex-Chelsea team-mate Wayne Bridge.
Calls for the defender to be stripped of the captaincy have been criticised as a 'witch hunt' by England Under 21 coach Stuart Pearce, one of Capello's assistants in the senior squad.
Wounded Lions: Wayne Bridge with England team-mate John Terry before revelations broke surrounding the national captain (below, with Fabio Capello)
But Martinez said there would be an obvious consequence of Terry's situation.
When asked if issues off the pitch should have an effect on it, the Spaniard said: 'In a way, yes. As a captain you represent a group of individuals and if that (off-field issues) affects the respect the other individuals have in you it is going to have an effect.
'That is down to the manager and players to make that decision. Only Fabio Capello, John Terry and the players know that relationship.
'But when you have such a public role you are going to be affected by it.
'Being a captain is a very intense role and is something which has no margin for error because the role you have on the pitch, in your football club, is more important than your private life.'
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