Chelsea agree British record fee for Caicedo: it's good news for Brigton and a bunch of kids in Ecuador

Chelsea have agreed a British record transfer fee of $146 million for Brighton and Hove Albion midfielder Moises Caicedo, according to various media reports on Monday.

The 21-year-old Ecuador international had also been a target for Premier League rivals Liverpool, who on Friday agreed a reported record $140 million fee with Brighton. But it became clear over the weekend that Caicedo preferred a move to Chelsea and will join the West London club on an eight-year contract.

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The transfer presents another fantastic piece of business for Brighton, who scouted and signed the youngster from his native Ecuador by paying just $5 million to his boyhood club Independiente del Valle. Crucially, the Ecuadorian club insisted on a 20 per cent sell-on clause, which will bring a fortune to them when the Blues get their new midfielder.

Independiente del Valle owner Michel Deller, a big shot in the South American real estate sector, proudly announced the money received from Caicedo's transfer will go to a special trust which would be used for developing young players. Deller plans to build a brand new training centre which would give the club an edge over rivals and ensure more talented kids like Caicedo come through the ranks of the two-time Copa Sudamericana winners.

"All the money the club receives from the potential Caicedo move will go straight to the fund, which can only be used for our youth academy. We want to invest here. That money is important, and it will be used for our boys. When Caicedo was here, I told him about this idea, and he was delighted with it. We will build a High Performance Center in Santo Domingo that will bear the name of Moises Caicedo. We are very happy for Moises. He is such a wonderful boy, and it is good that God is blessing him. Also, he is a fantastic player."

As things stand, the amount of around $28 million will go to the Ecuadorian club.

Chelsea, who drew 1-1 with Liverpool in their Premier League opener on Sunday, hope Caicedo will be available for next weekend's trip to West Ham United. He could line up in Mauricio Pochettino's team alongside Enzo Fernandez, who cost what was then a British record $135 million when he joined from Benfica earlier this year.