The Red Devils have been heavily linked with a swoop to sign the 19-year-old over the past couple of months following his breakthrough performances for Independiente del Valle and the Ecuador national team.
Caicedo has established himself as a regular fixture in the Independiente del Valle team and his domestic performances earned the teenager a call-up to the Ecuador national team in October for the first time.
The teenager made his debut in a 1-0 loss to Argentina in the 2022 Fifa World Cup qualifier before Caicedo found the back of the net in Ecuador’s 4-2 win over Uruguay at the Estadio Rodrigo Paz Delgado days later.
Caicedo, who has earned favourable comparisons to Chelsea FC midfielder N’Golo Kante, has scored four times in 25 league appearances for Independiente del Valle since the teenager broke into the first team in 2019.