Chelsea lead Arsenal in race to sign Moises Caicedo but may have to pay £120m for Brighton star

• Chelsea at head of queue for Ecuadorian
• Seagulls rejected £70m Arsenal bid in January
• Chelsea may use players to bolster bid

WHAT HAPPENED? With Arsenal's transfer sights firmly trained on Declan Rice, the Blues see a clear path to signing the 21-year-old, but now face the task of negotiating with the Seagull's shrewd owner and chairman Tony Bloom, who The Telegraph reports to value the player as high as £120m.

THE BIGGER PICTURE: Having stood their ground in the face of intense interest from Arsenal in the winter, Brighton will be looking to obtain as high a fee as possible for Caicedo. Chelsea may have some cards to play, however, with Brighton interested in the permanent signing of Levi Colwill who was on loan at the Amex Stadium last term. Chelsea may also be able to use other players such as Conor Gallagher as part of a package.

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WHAT NEXT FOR CAICEDO? Caicedo has a chance to put all the speculation aside for a day or two as he will likely feature for Ecuador against Bolivia on Sunday.