Liverpool manager Jurgen Klopp has confirmed that the club has reached an agreement to sign midfielder Moisés Caicedo from Brighton.

The Merseyside club look to have beaten fellow Premier League rivals Chelsea to signing the 21-year-old midfielder.

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Reports say the deal to bring Caicedo to Anfield is worth 111 million ($141m) which would be a British record for a player.

Sources told ESPN that Chelsea are considering whether to improve their offer of 90m for the player in an attempt to rival Liverpool's dramatic intervention.

"I can confirm the [Moises Caicedo] deal with the club is agreed, whatever that means in the end," Klopp told a news conference on Friday.

"Of course, we want the player and not just the agreement. We don't have endless resource.

"We didn't expect a couple of things to happen over the summer but when that happened we gave it a go. Let's see what happens and we go from there."

Klopp has previously been critical of teams spending big money on transfers but said the transfer market has changed.

"Everything changed. Do I like it? No. Did I realise I was wrong? Yes," Klopp added. "I'm not blaming anyone but it's just the market.

"In the end, we as a club have to make sure that, with our resources, we get the best possible player.

"We aren't in a dreamland and can't just point at a player and get them to come in. Sometimes one door closes and another opens up."

Information from ESPN's James Olley was included in this report.