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Having pipped Liverpool to the post for Caicedo, Chelsea has also signed a number of other big-money players, and the staggering spending spree under Todd Boehly has attracted criticism.
The club stunned the football world last season by splashing out almost £600m on 16 new players.
Romeo Lavia and Nicolas Jackson are also heading to Chelsea, and Graeme Souness told the Daily Mail: ‘I can’t help but think that when Todd Boehly arrived at Chelsea, all the club’s football knowledge walked out the door.
‘He’s paid way over the odds by buying players on the basis that they were being linked with other big clubs.’
So just how much has Chelsea spent during this transfer window?
Let’s take a look.
How much has Chelsea spent?
Chelsea has spent a whopping £452m so far this transfer window, according to the CIES Football Observatory – and there’s still over a week left.
This is despite widespread criticism of their ‘scattergun’ approach, and the 12th place Premier League finish last term;
Following last year’s takeover by the Todd Boehly-led consortium backed by Clearlake Capital, Chelsea spent a record £323m in the January window.
The latest signings take their transfer outlay to around £900m since Boehly completed his £4.25bn takeover last May.
The Club has avoided falling foul of Premier League Financial Fair Play (FFP) rules largely by signing players on long-term contracts.
Caicedo and Lavia, who have signed eight and seven-year contracts with Chelsea respectively, have become the 22nd and 23rd players to agree to a contract lasting five years or more.
This has the effect of spreading out the cost of transfer fees over a longer period for accounting purposes – although MailOnline reports that the Premier League are now set to close the contract loophole.
Who has Chelsea signed this summer?
Who has Chelsea signed in the summer 2023 transfer window?
The club also broke the British transfer record back in January with the signing of Argentina’s midfield maestro Enzo Fernandez for £107m from Benfica.
But despite looking light up front following injury to Nkunku, Chelsea will not pursue a £50million deal for striker Brennan Johnson after opening talks with Nottingham Forest for the forward, after being put off by his price tag.
MORE : Arsenal star Declan Rice makes joke about Moises Caicedo’s transfer to Chelsea
MORE : How Eden Hazard helped Chelsea beat Liverpool to signing of Romeo Lavia
MORE : Jamie Carragher says Chelsea still need ‘four top players’ including a new goalkeeper’
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