Recent reports have suggested that Real Madrid might be interested in signing him, but Chelsea is planning to offer him a more lucrative contract to keep him at the club.

Caicedo has become a key player for Chelsea under manager Enzo Maresca and is considered one of the top central midfielders in the Premier League.

His current contract is set to expire in 2031, with an additional 12-month option, but Chelsea wants to secure his future with the club.