Yep.
And Chelsea's recent MO has been to agree very large total transfer fees spread over the length of long player contracts. So much so that rules about doing that have had to be tightened. That's how they're attempting to manage "spending" about a billion quid over the last year or so and still being FFP compliant.
If we've offered enough up front, or a much shorter schedule than Chelsea can manage then they're going to find it very hard to find an agreement with Brighton, even offering a significantly greater total fee. They'll still likely be having to spread it over as long a duration as they can.
On top of which, like I said earlier, it's not in Brighton's interest to do a deal with Chelsea. Even if Chelsea could match our deal exactly, or even slightly better it, it's still in their interest to preserve the integrity of the their bidding process in case they have similar situation with another player, which given that they rely on buying and selling players like Caceido with murky ownership and agents to survive in the PL, isn't that unlikely.
So I think Chelsea will have to stump up a much higher transfer fee to get an agreement. Not £115m for example. That won't cut it.
Chelsea will mess around trying all sorts of financial trickery and might eventually find a solution, but if they don't Caceido will sign for us on deadline day.