By SABC Sport
14th August 2023
A deal for the midfielder was finally agreed late on Sunday night after a lengthy saga that saw Brighton knock back three bids for the 21-year-old.
He eventually underwent a medical and agreed personal terms on Monday and has now signed an eight-year contract with the London club.
Caicedo said: "I am so happy to join Chelsea! I am so excited to be here at this big club and I didnt have to think twice when Chelsea called me, I just knew I wanted to sign for the club.
"It's a dream come true to be here and I can't wait to get started with the team."
It is understood that roughly half of the add-ons included in the deal are easily achievable whilst the rest will be more difficult for Brighton to activate.
Though, it is likely the fee will eventually rise to become a British transfer record, surpassing the £105m the Blues paid Benfica for World Cup-winning Argengtine midfielder Enzo Fernandez in the off-season.
They first tried to buy Caicedo during the January transfer window but Brighton were insistent he was not for sale and, after initially stating a desire to leave, he was persuaded to sign a new contract in March until 2027.
During the current window Chelsea had previously only been willing to go as high as £80m – a figure well short of Brighton owner Tony Bloom’s valuation, before finally agreeing to meet Brighton’s requirements for a deal on Sunday.
The PA news agency also understands Chelsea have won the race to sign Romeo Lavia from Southampton after the midfielder picked Stamford Bridge over a move to Liverpool.
Though a fee is yet to be agreed, the 19-year-old has indicated his desire to join Mauricio Pochettinos side and negotiations will now take place over personal terms, with the deal likely to be worth in excess of £50million.
It is the second time in less than 24 hours that the club have beaten Liverpool to a key transfer target following Caicedos capture.