Chelsea have completed the British-record signing of Moises Caicedo from Brighton for a reported £115million.

The Ecuadorian midfielder, 21, was close to joining Liverpool last week but the Blues dramatically hijacked the deal to seal their long-term target.

Despite interest from the Reds, Caicedo was said to have his heart set on a move to Stamford Bridge and he has finally sealed the switch from the South Coast.

He told Chelsea's official website: "I am so happy to join Chelsea.

"I am so excited to be here at this big club and I didn't have to think twice when Chelsea called me. I just knew I wanted to sign for the club. 

"It's a dream come true to be here and I can't wait to get started with the team."

A key performer for Brighton last season as they qualified for the Europa League, Caicedo was one of the Premier League's most sought-after talents.

Alongside Liverpool, Arsenal were thought to be keen on the tough-tackling lynchpin but he will now look to thrive at the base of Mauricio Pochettino's midfield in West London.

It is the second time in less than a year the Blues have broken the British transfer record, with new midfield partner Enzo Fernandez joining for a previous high of £105m in January.

Co-sporting directors Laurence Stewart and Paul Winstanley said: "Moises has proved himself as a standout player in European football over the past 18 months and we are thrilled to add him to Mauricio's squad. 

"Moises possesses a rare midfield skill set and is a player we've been targeting for some time. 

"We believe he will make a significant impact at Stamford Bridge this season — and in the years ahead."