The Blues have been locked in negotiations with Brighton & Hove Albion over a deal for Caicedo. Despite having three bids rejected, their interest in the Ecuadorian interest remains firm.
However, Chelsea are now looking into moves for other midfield options with Tyler Adams, Edson Alvarez and Gabriel Veiga all under consideration.
Alvarez was linked with a £40 million deadline-day switch to Chelsea last summer but a move failed to materialise as Ajax opted against sanctioning his exit a few hours before the end of the transfer window.
The Mexican midfielder is now back on Chelsea’s radar having been courted by Borussia Dortmund and West Ham United earlier this summer.
Off the back of his breakout season last time out where he netted 11 La Liga goals, Veiga is attracting interest from several European heavyweights, including Paris Saint-Germain and Manchester City.
Veiga’s current employers Celta Vigo have made it clear they will not let him go unless someone triggers the £34.2m release clause in his contract.
This leaves Adams are the cheapest option due to the American’s relegation clause which is around £20m and ready to be triggered following Leeds’ exit from the Premier League.
With just 12 days left before Chelsea kick off their 23/24 campaign against Liverpool, the Blues are expected to speed up their transfer activity, with manager Mauricio Pochettino recently stating his squad needs at least one more experienced midfielder.
Chelsea have already parted ways with Mateo Kovacic, N’Golo Kante and Ruben Loftus-Cheek, while Conor Gallagher could also be on his way out of Stamford Bridge amid interest from West Ham.
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