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Chelsea have seen multiple offers for the midfielder rejected by Brighton, including an offer of £80 million which was submitted last week.
Brighton have remained adamant that they want a £100m transfer fee for the Ecuador international – a figure which Chelsea have been reluctant to meet.
However, The Independent reports that Chelsea have ‘made progress’ during negotiations this week, with Brighton demanding a £90m fee up front.
The report claims that there has been ‘some breakthrough on the structure of a potential deal’ but Chelsea’s proposal will need to be in excess of £90m in order to convince Brighton to sell.
Chelsea are aiming to complete a deal for Caicedo before their Premier League opener against Liverpool on Sunday.
Caicedo was absent for Brighton’s 1-1 draw against Rayo Vallecano on Sunday due to a hamstring injury and also missed Monday’s training session in an apparent move to force a transfer.
Chelsea, meanwhile, have entered the race with Liverpool to sign Southampton midfielder Romeo Lavia.
Liverpool have made the 19-year-old one of their priority targets for the summer transfer window but their latest offer of £45m was turned down by Southampton this week.
Chelsea have now beaten Liverpool’s proposal by submitting a £48m bid to Southampton on Wednesday evening.
Southampton have been holding out for a £50m fee for the 19-year-old, who they signed in a £14m deal from Manchester City last year.
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