Caicedo, 21, is with Roberto de Zerbi’s squad in New Jersey, where they are set to play Newcastle on Friday.
Brighton are understood to have rejected the revised offer instantly, and are said to be committed to keeping the Ecuador international.
Caicedo is one of Chelsea’s long-term transfer targets and two bids have been previously rejected.
However, Brighton adopted a similarly hardline approach with Chelsea last year and relented when the bidding rose above £60m for defender Marc Cucurella.
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Brighton boss De Zerbi last week said he was planning to have Caicedo in his squad for next season.
Paris St-Germain have made a take-it-or-leave-it bid of 50m euros (£42.8m) for Atalanta forward and Manchester United target Rasmus Hojlund.
The Denmark striker is top of the Red Devils’ wanted list this summer.
However, PSG have now made their interest known.
Written by: Debby Eselebor
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