Chelsea have spent over £600m on players under co-owner Todd Boehly (Picture: Getty)

Chelsea are reportedly plotting summer moves for midfielders Moises Caicedo and Manuel Ugarte – which could cost the club £132 million.

Brighton have slapped a £80m price tag on Caicedo with Arsenal also heavily linked with a transfer after he almost moved to the Emirates in January.

Chelsea also want to bring in Sporting Lisbon’s Manuel Ugarte, according to the Guardian, who has a £52m release clause in his contract at the Portuguese club.

Should Chelsea be successful in their pursuit of both players it would cost the club £132m as the Blues continue to splash the cash under co-owner Todd Boehly.

The west Londoners have splurged over £600m since the American replaced Roman Abramovich last summer.

Chelsea are thought to be in danger of a Financial Fair Play breach and are looking to offload a number of stars as part of another squad rebuild.

Mason Mount has been strongly linked with a move to Manchester United amid a contract dispute at his boyhood club.

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Chelsea reportedly want £80m for Mount which they could then use to bring in Caicedo if United are willing to pay that fee.

But they will have to beat the Gunners in the race to sign the Brighton star with the player’s agent recently hailing Arsenal as a ‘great club’.

Brighton are keen to sign Levi Colwill from Chelsea which could help in the negotiations to bring Caicedo to Stamford Bridge.

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Arsenal are looking to sign one of them…