Arsenal have spent a lot of money this summer – but Chelsea are set to pip them to a major target in the coming days

 The Gunners have been extremely busy in recent weeks in the transfer market, bringing in Kai Havertz, Declan Rice and Jurrien Timber for a combined £200 million. Only the former deal has so far been announced, the other two set to follow.

But after such a huge outlay, Arsenal need to balance the books before committing to more spending. Granit Xhaka has joined Bayer Leverkusen for £20m – but should manager Mikel Arteta shift a couple more fringe stars, he would like to add another midfielder.  

According to transfer guru Fabrizio Romano, however, the chances of bringing long-term target Moises Caicedo to the Emirates Stadium are dwindling, with Chelsea looking at signing the Ecuadorian first. 

"[I] understand Moises Caicedo deal is now ‘moving’ between Chelsea and Brighton," the Italian journalist tweeted. "The two clubs are discussing [the] amount of [the] fixed fee."

Arsenal wanted to bring the midfielder to north London towards the end of the January transfer window, as per The Athletic. But the player ultimately signed a new deal at the Amex to protect his value, with a release clause rumoured to be inserted should interest come in for him again.

Arteta has added Havertz to his options in midfield but a more defensive alternative may well be needed. Should he want to sign Caicedo, however, he will need to act fast to sell stars before committing what could well be another £100m – with Fabrizio Romano confirming that Chelsea have struck personal terms with the player and now only need to agree a fee. 

Brighton have already lost Alexis Mac Allister this summer and are in a strong enough position financially to not need to sell Caicedo for any less than their valuation of him.