Chelsea have completed the signing of Brighton midfielder Moises Caicedo for £100m which could rise to a British record fee of £115m.
Liverpool agreed a £111m move for the 21-year-old Ecuador player on Friday.
But Caicedo’s preference was Chelsea and they finally succeeded with a bid on Sunday evening after having a succession of offers rejected.
“I didn’t have to think twice when Chelsea called me, I just knew I wanted to sign for the club,” Caicedo said.
“It’s a dream come true to be here and I can’t wait to get started with the team.”
It is understood the initial fee is £100m, with the additional £15m in payments mostly based on appearances.
Brighton expect to receive the entire £115m in a short period of time while the Seagulls have also negotiated a significant sell-on clause.
The full £115m fee would mean Chelsea broke the British record twice in 2023, following the £107m purchase of Argentina midfielder Enzo Fernandez in January.
