Last week the Seagulls snubbed a £70m offer from Chelsea for a player they value in the region of £100m.
According to a source who spoke to Sky Sports News, Brighton will try to earn over £100 million for Caicedo, who they acquired from Ecuadorian club Independiente del Valle for £4.5 million in 2021. This puts Caicedo on par with Declan Rice, who was the record-breaking signing for Arsenal.
The 21-year-old is rumoured to have expressed interest in joining Chelsea if a deal can be reached between the two clubs, with personal terms not believed to be an issue.
Chelsea are now deciding whether to go back in with an improved offer or turn their attention to other targets.
Soccerhuz.com has been told Brighton are committed to keeping the player and that they do not want to sell.
Brighton manager Roberto de Zerbi has made it clear he wants Caicedo to stay.