Liverpool hijacked Chelsea’s summer-long pursuit of Caicedo on Thursday night after they agreed to pay a British transfer record fee of £110m to Brighton.
Chelsea decided against paying more than their last offer of £100m and the Reds have won the race to sign the Ecuadorian.
Caicedo and his agent were parked in London on Thursday as they waited for developments and he will be on Merseyside today.
It has been claimed that Liverpool’s contract offer to Caicedo is also better than Chelsea were prepared to pay.
The midfielder is set to earn more at Anfield once he completes the move than he would have if he joined Chelsea.
The Ecuadorian will undergo a medical at Liverpool today before signing a long-term contract with the Reds.
Jurgen Klopp decided to press forward with the more expensive deal for Caicedo as he has been desperate for a defensive midfielder this summer.
