The 21-year-old Ecuadorian player was acquired by Liverpool on Friday at £111 million.

However, Caicedo preferred Chelsea, and after several unsuccessful bids, the Blues were successful with an offer on Sunday night.

When Chelsea called me, I knew without a doubt that I wanted to sign for the club,” Caicedo recalled.

“Being a part of this team is a dream come true, and I can’t wait to get started.”

Caicedo, who moved to Brighton for £4 million in February 2021, has signed an eight-year deal with the Blues, with a ninth year available if Chelsea so chooses.

The extra £15 million in payments is dependent mostly on appearances, and Brighton anticipates receiving the full £115 million in a short period of time.

In addition, the Seagulls secured a sizable sell-on clause for the midfielder.

With their January purchase of Argentina midfielder Enzo Fernandez for £107 million, Chelsea would shatter the British club record twice in 2023 if they pay the full £115 million sum.

Chelsea’s co-sporting directors Laurence Stewart and Paul Winstanley said in a statement, “Moises has proven himself as a standout player in European football over the past 18 months.”

David Weir, head of football at Brighton, has called Chelsea’s incoming midfielder “one of the top in the world.”

Brighton had demanded more than £100 million for Caicedo this summer, a price they reportedly believed would not be met.

Brighton’s chairman, Tony Bloom, said, “Moises expressed a strong desire to move on, and at that point it was crucial our valuation was met in full.”

Manager Roberto de Zerbi said he had “already forgotten” about Caicedo in a press conference before the Seagulls’ season opener against Luton. He also said, “Bigger clubs can buy our players but they can’t buy our soul or spirit.”

Although Caicedo signed with Brighton in 2021 from Independiente del Valle of Ecuador, he did not make his Premier League debut until the following April.

The midfielder had requested a transfer from Brighton during the January transfer window this year but ultimately re-signed with the club until 2027 in March despite receiving various bids from Arsenal.

The Brazilian midfielder Caicedo joins the likes of Axel Disasi, Christopher Nkunku, Nicolas Jackson, Lesley Ugochukwu, Angelo Gabriel, Robert Sanchez, and Diego Moreira as the seventh summer addition to the Blues’ roster.

Mauricio Pochettino was hired to improve upon the team’s 12th-place Premier League finish from the previous season.

Several key players have already left this summer, including Mateo Kovacic, Edouard Mendy, Kalidou Koulibaly, N’Golo Kante, Mason Mount, Kai Havertz, Christian Pulisic, Ruben Loftus-Cheek, Ethan Ampadu, Pierre Emerick-Aubameyang, Abdul Rahman Baba, and Cesar Azpilicueta (the team’s former captain).

On Sunday, Chelsea’s season began with a 1-1 home draw against Liverpool in the Premier League.