Chelsea took its spending on players to a staggering $1 billion in 15 months under its American owners by signing Ecuador midfielder Moises Caicedo from Brighton on Monday for a reported 115 million pounds ($146 million).
It is a record fee for a transfer in Britain, surpassing the 106.7 million pounds (then $131.4 million) that Chelsea paid for Argentina midfielder Enzo Fernandez in the January window.
Since taking control of the London club in May last year from Roman Abramovich, Chelsea’s ownership — fronted by Todd Boehly and Clearlake Capital — has spent $280 million on players in the 2022 summer transfer window, $350 million in the January window and now around $370 million, and counting, this summer.
It’s an unprecedented spending spree designed to remodel the squad in the shortest, most realistic possible timeframe. In the 21-year-old Caicedo, Chelsea believes it has signed one of best young midfielders in the world.
“Moises possesses a rare midfield skill set and is a player we’ve been targeting for some time,” Chelsea co-sporting directors Laurence Stewart and Paul Winstanley said. “We believe he will make a significant impact at Stamford Bridge this season — and in the years ahead.’
Chelsea beat Liverpool to the signature of Caicedo, who only played one full season for Brighton after joining from Ecuadorian club Independiente del Valle in 2021. He spent the first half of the 2021-22 season on loan at Beerschot in Belgium before being slowly integrated into Brighton’s team.
He is a defensive midfielder who is good on the ball, covers ground quickly and is an intense presser.
He will dovetail with Fernandez in a young and exciting partnership under Chelsea manager Mauricio Pochettino, who is in his first year in charge and has overseen a remarkable squad overhaul.
“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.”
Caicedo has signed an initial eight-year deal, which continues Chelsea’s policy of handing out long contracts to spread “amortization” costs of transfer fees across the whole deal.
Liverpool reached an agreement with Brighton last week to buy Caicedo for a reported 110 million pounds ($140 million). He never ended up traveling to Merseyside because he preferred to join Chelsea, which had made offers for the midfielder during the offseason.
Caicedo wasn’t involved in Brighton’s opening game of the Premier League season, a 4-1 win over Luton on Saturday. Chelsea opened the Premier League with a 1-1 draw against Liverpool on Sunday.
Chelsea’s latest bout of heavy spending has been offset by the sale of a slew of players on big wages including N’Golo Kante, Kepa Arrizabalaga, Kai Havertz, Mason Mount and Mateo Kovacic.
More players are likely to be coming through the door at Stamford Bridge in this transfer window, though. Romeo Lavia is another defensive midfielder who is reportedly close to signing for Chelsea amid interest from Liverpool.
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