Brighton's Ecuadorian midfielder Moises Caicedo jumps to control the ball during the EPL football match. File/AFP

Chelsea and Liverpool have gone to battle in the transfer market for the signature of Brighton's Moises Caicedo before they face off at Stamford Bridge on the opening weekend of the Premier League season.

The Ecuadorian is set to become the most expensive player in English football history as both clubs see the 21-year-old as integral to their hopes of bouncing back after disappointing seasons.

Liverpool have agreed a £110 million deal ($140 million, 127 million euros) with Brighton, but the player is believed to still favour a move to Chelsea.

The Blues slumped to 12th in the Premier League last season -- their lowest finish since 1994 -- despite spending over £500 million on new players during the first year of the club's new ownership.

Chelsea are now looking to throw more money at their issues after a summer clearout left new manager Mauricio Pochettino short of midfield options.

But after they failed to match the asking price during months of negotiations, Liverpool looked to have stolen a march when they were the highest bidders by a deadline imposed by Brighton on Thursday.

The Reds are also in need of new midfielders after losing captain Jordan Henderson, Fabinho, James Milner, Naby Keita and Alex Oxlade-Chamberlain since the end of last season

Jurgen Klopp's men missed out on Champions League football for the first time in seven seasons after finishing fifth in the Premier League last season.

And despite the capture of another of Brighton's stars Alexis Mac Allister and Dominik Szoboszlai from RB Leipzig, fans and even the club's new skipper Virgil van Dijk have grown frustrated with the lack of new arrivals at Anfield.

"Obviously, when a lot of players are leaving, when your captain is leaving, your vice-captain is leaving, and at the moment, there are only two incomings...I can understand some people having doubts," said Van Dijk.

Agence France-Presse