Each Chelsea and PSG agreed to pay Ugarte’s £52million launch clause however the French membership supplied him a much bigger wage package deal and the Blues have backed away from talks.
Chelsea will as an alternative goal securing a deal for Caicedo forward of Arsenal and Liverpool, as they rebuild their midfield beneath new head coach Mauricio Pochettino.
Caicedo might value greater than £80m after establishing himself as among the best midfielders within the Premier League at Brighton.
Arsenal tried to signal Caicedo in January and will goal him once more this summer season, although their main focus is a transfer for his or her high goal Declan Rice.
Liverpool and are additionally within the 21-year-old Ecuador worldwide.
However Chelsea are optimistic they will attain a deal for Caicedo and are thought to have mentioned a transfer for him in talks with Brighton over Levi Colwill.
Chelsea rejected a £30m bid for Colwill from Brighton final week and have insisted the 20-year-old central defender shouldn’t be on the market.
Colwill loved an excellent season on mortgage at Brighton and Pochettino has indicated he’s in his plans at Stamford Bridge.
However Brighton wish to hold him on the Amex this season, which might assist in negotiations over Caicedo.