CHELSEA have smashed their own British transfer record to complete the £115million signing of Moises Caicedo.
The massive fee eclipses the previous £107m record Chelsea paid Benfica for Enzo Fernandez in January.
Caicedo, 21, snubbed interest from Liverpool after they agreed a £111m fee with Brighton last week.
He has had his heart set on a move to Chelsea from the beginning of the window.
It is understood there is also a sell-on clause included for Brighton as well as the historic £115m fee.
A medical was completed earlier today and all the terms agreed on the whopping eight-year deal with the option of an extra year.
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An eight-year contract has been agreed with the club having the option of a ninth year.
After completing his move to the club, Caicedo said: "I am so happy to join Chelsea.
"I am so excited to be here at this big club and I didn’t have to think twice when Chelsea called me, I just knew I wanted to sign for the club.
"It’s a dream come true to be here and I can’t wait to get started with the team."
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Co-sporting directors Laurence Stewart and Paul Winstanley released a joint statement following his arrival.
They said: "Moises has proved himself as a standout player in European football over the past 18 months, and we are thrilled to add him to Mauricio Pochettino’s squad.
"Moises possesses a rare midfield skill set and is a player we've been targeting for some time. We believe he will make a significant impact at Stamford Bridge this season – and in the years ahead."
Brighton will make an incredible profit on Caicedo having signed him for just £4.5m from Ecuadorian side Independiente del Valle in 2021.
He was one of the standout midfielders in the Premier League last season, making 37 league appearances for the Seagulls as they finished 6th in the Premier League.
Liverpool boss Jurgen Klopp had confirmed that a deal had been agreed to bring the star to Anfield.
But a deal started to stall as it was claimed that Caicedo was having second thoughts about the move.
And as revealed by SunSport, the South American rejected the deal as he had his heart set on moving to Chelsea.
Chelsea desperately need new midfielders following the exits of Ruben Loftus-Cheek, Mateo Kovacic, Mason Mount and N'Golo Kante this summer.
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And Caicedo is now Fernandez's new midfield partner with Southampton's Romeo Lavia also close to a Chelsea move.
Liverpool were in for Lavia too and after losing Fabinho, Jordan Henderson and Naby Keita, they are short in midfield.
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