Brighton have rejected a rival bid for target from an unnamed club, according to reports.
The Seagulls and the Blues have been locked in talks over a move for the Ecuador international all summer .
The west Londoners are not giving up on Caicedo, though, .
But their hopes of landing Caicedo have taken a hit after Brighton received a bid from a rival club on Wednesday, reported on Wednesday, which is said to be worth more than Chelsea’s third offer of £80m.
The mystery rival club have not been named – with fans speculating online that it could be Bayern Munich, Newcastle United or even a team from Saudi Arabia.
Caicedo was previously strongly linked to Arsenal but the Gunners opted to sign Declan Rice from West Ham in a £105m deal instead.
Brighton want to secure a similar fee to part ways with 21-year-old Caicedo this summer.
Chelsea, meanwhile, if a move for Caicedo falls through.
Head coach is eager to bring in a more defence-minded midfielder this summer.
The club are somewhat light on options in the middle of the pitch following the exits of N’Golo Kante, Mateo Kovacic, Mason Mount and Ruben Loftus-Cheek.