Caicedo has emerged as the top midfield target for Chelsea as the club continue to try and keep their spending spree going in the final week of the winter transfer window.
Graham Potter wants to reunite with Caicedo at Chelsea and the club are pushing to snare him away from Brighton in the coming days.
Chelsea are said to have tabled an offer worth £55m in order to get their hands on the midfielder.
According to Italian broadcaster SportItalia, Chelsea are prepared to further pad out the deal with various bonus payments.
The Blues are ready to offer Brighton a hefty percentage of any future sale of Caicedo in order to sweeten the deal.
However, Chelsea’s offer is yet to cut the mustard as Brighton are not ready to sell him this month and are demanding a top offer before letting Caicedo go.
It has been claimed that Brighton want £65m as the base fee and further add-ons and bonuses as part of any deal.
It remains to be seen whether Chelsea take up the bait and offer the money that Brighton are looking for.