LONDON (AP) — Chelsea signed Ecuador midfielder Moises Caicedo from Brighton on Monday for a reported 115 million pounds ($146 million), which is a record fee for a transfer in Britain.

Chelsea beat Liverpool to the signature of the 21-year-old Caicedo, who only played one full season for Brighton after joining from Ecuadorian club Independiente del Valle in 2021.

The fee surpasses the 106.7 million pounds (then $131.4 million) that Chelsea paid for Argentina midfielder Enzo Fernandez in the January transfer window. Another midfielder, Declan Rice, joined Arsenal from West Ham for 100 million pounds ($127 million), plus add-ons, last month.

“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.”

It accelerates the heavy and unprecedented spending of Chelsea in its new regime under Todd Boehly and Clearlake Capital. The London club spent $630 million across the previous two transfer windows and the spree has continued in this summer's window with an outlay of more than $300 million, although that 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.

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.

Caicedo, who spent the first half of the 2021-22 season on loan at Beerschot in Belgium before being integrated into Brighton's team, 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.

“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 opened the Premier League with a 1-1 draw against Liverpool on Sunday.

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.

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