The midfielder is wanted at some of the biggest clubs in the Premier League but Brighton are determined to hold on to him.
Chelsea have been working on a deal to sign him but they have made no headway in talks with the Seagulls.
Brighton rejected a £55m verbal proposal from Chelsea but there is one more club who are now pushing to sign the midfielder.
It has been claimed that Arsenal have gone in with an offer to take Caicedo to the Emirates in the ongoing transfer window.
The north London club have offered £60m to Brighton in their pursuit of the midfielder in the final days of the transfer window.
Mikel Arteta wants to add a midfielder to his squad before the transfer window closes next Tuesday.
It remains to be seen whether that cuts the mustard with Brighton who still do not want to sell the player.
Brighton will reportedly consider changing their stance only if they receive an offer worth £100m this month.