Premier League rivals Arsenal have pulled out of the race to sign Brighton midfielder Moises Caicedo amid interest from Chelsea, according to Daily Mail.

The Gunners will instead focus on signing West Ham midfielder and captain Declan Rice, who is valued at around £100m by David Moyes’ side.

Brighton, who qualified for the Europa League and have already sold Caicedo’s regular midfield partner Alexis Mac Allister to Liverpool for £35m, expect the Ecuadorian wonderkid to leave this summer.

Brighton’s asking price of £80million for Caicedo plus Chelsea’s interest in the midfielder has driven Arsenal away.

Meanwhile, Chelsea have identified Argentina and Inter Milan striker Lautaro Martinez as one of the club’s key summer transfer targets.

According to The Times, Chelsea are keen on signing the World Cup winner who helped Inter Milan reach the Champions League final.

However, Chelsea face competition for the transfer of the 25 year old striker from Spanish side Real Madrid.

Harry Kane, the Tottenham Hotspur striker, is Real Madrid’s top target but Martínez is high on the list of alternatives.