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Chelsea beat Liverpool to a £115m deal for Brighton midfielder Caicedo, taking the Blues’ summer spending past £250m.
Wright expects Caicedo to flourish at Stamford Bridge alongside the Premier League’s previous record signing Enzo Fernandez, but doubts he will turn Chelsea into title contenders.
Chelsea will almost certainly improve on last season’s dismal 12th-place finish but Wright has questioned whether the Blues will be prolific enough in front of goal to challenge for the title.
Mauricio Pochettino’s side drew 1-1 with Liverpool on the opening weekend of the new season and continue their Premier League campaign on Sunday with a London derby against West Ham.
‘It’s a great move for Moises Caicedo, especially because he’ll be playing alongside Enzo Fernandez,’ ex-England striker Wright told Premier League Productions.
‘I think Enzo and Caicedo will be the two in front of the defence that will really solidify it.
‘But in respect of them being a challenge [to Man City and Arsenal], I don’t know who is going to score the goals for them.
‘I think Chelsea will be in and around it. I still feel that Arsenal will be up there, without a shadow of a doubt.
‘You look at somebody like Caicedo in the Brighton midfield, how brilliant he was and how good their defensive record was.
‘Even at Arsenal, they missed a player like Thomas Partey at the end of last season.
‘Those defensive midfielders do so much for the team, not just breaking play up, but the way they can progress the ball as well.
‘It’s a position if you are playing that brand of football, with a defensive midfielder, then he becomes one of the pivotal players – it’s a very, very important player in the system now.’
MORE : Why Romeo Lavia chose Chelsea over Liverpool after Moises Caicedo bid
MORE : Crystal Palace believe Chelsea have ‘crossed a line’ over Michael Olise pursuit
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