Chelsea are understood to be paying an initial £100m, plus £15m in performance-related add-ons.
Caicedo has been granted permission by Brighton to have a Chelsea medical, which is expected to take place on Monday.
BREAKING: Moisés Caicedo to Chelsea, here we go! Agreement reached and sealed right now — it’s gonna British record transfer fee ???????????????? #CFC
£115m fee plus sell-on clause included for Brighton.
Medical tests, booked.
Caicedo will sign until June 2031 with option until 2032. pic.twitter.com/7O8whsRLdK
— Fabrizio Romano (@FabrizioRomano) August 13, 2023