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Chelsea and Arsenal have to pay £80 million to sign Brighton & Hove Albion midfielder Moises Caicedo this summer.
The Ecuador international was on the radar of the London giants in January, but the Seagulls refused to sanction his exit.
The duo are prepared to make a renewed approach this summer, but Sky Sports claim that he will cost a premium fee.
Brighton convinced Caicedo to pen a new long-term deal earlier this year and they are now holding out for at least £80m.
The Seagulls could also demand additional bonuses for the 21-year-old. The deal could increase upto £100m with add-ons.
As things stand, Arsenal could have a big advantage over Chelsea in the race after qualifying for the Champions League.
The north London side are back in the elite club competition after six years and this could persuade Caicedo to join them.
Caicedo has yet to make a decision over his future, but Teradeportes have claimed that he has agreed terms with Arsenal.
Written by Sri Aswin
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