Chelsea are reportedly preparing to open talks over an improved contract for Moisés Caicedo in a bid to cool outside interest, with Real Madrid among the clubs said to be monitoring the Ecuadorian.

According to TEAMtalk, the Blues view the 23-year-old as central to their long-term project and want to lock in his future with upgraded terms despite the fact his current deal already runs to 2031.

On the back of a string of assured displays this season, Chelsea’s hierarchy are keen to reward Caicedo and send a firm message to would-be suitors ahead of the next two transfer windows.

Caicedo’s trajectory at Stamford Bridge has moved steadily upward. After a settling-in period last season, the midfielder has looked increasingly like the player Chelsea invested heavily in when they struck a British-record deal to sign him in 2023.

Moises Caicedo has made the Chelsea midfield stronger

Where the team previously wobbled in defensive transitions, Caicedo’s anticipation and recovery speed have noticeably tightened the spaces between defense and midfield.

Madrid’s recruitment in recent years has focused on assembling an elite, multi-functional midfield group and Caicedo is the player who fits that profile.

From Chelsea’s perspective, a renewed contract needn’t be purely about money. It can formalise sporting...