Laudrup is known to be keen to bring in Iago Aspas from Celta Vigo, but reports in Spain had suggested Swansea had entered the race to snap up £13million-rated forward, who has scored 18 goals in La Liga this season.
But with Borussia Dortmund, Tottenham, Everton and Newcastle reportedly among the clubs monitoring 27-year-old Negredo, Laudrup does not believe the Liberty Stadium will be his destination.
He said: "I don't think that's possible because there are other teams that want him and we are talking double figures in terms of a transfer fee.
"It is out of our league, we cannot pay 10, 12 or £14million for a player."
Laudrup is keen to bolster his striking options for next season to ease the burden on Michu, who has scored 21 goals during a stunning maiden campaign in English football.
While the Spaniard has primarily been used as a striker due to his goalscoring record, he prefers to play as an attacking midfielder.
"Michu has done way beyond what any of us could ask of him," said Laudrup.
"He has scored 17 league goals and over 20 in all competitions.
"It is true in the last four or five games he has had chances he would have scored earlier in the season, but when you are talking about players like that there will be moments they just touch the ball and it will go in, other times it won't."