Sinclair left the south Wales club a matter of weeks after Laudrup took over from Brendan Rodgers last summer, joining Manchester City for a fee of £6.2million on the final day of the transfer window. But the winger has found first-team opportunities limited at the Etihad Stadium, making just two Premier League starts so far this season.
Reports have suggested Roberto Mancini is ready to listen to offers for the 24-year-old, who scored 27 goals for Swansea during their promotion campaign, and a further eight during their first season in the top flight. Laudrup has not ruled out the prospect of bringing Sinclair back, even though the Dane is also looking at other potential targets, saying: "We have other players who can play that position that we are looking at."
He added: "We have to make some decisions when we start talking to people about what is possible and what is not. Because it is one thing having names on paper and another when you start talking about salaries, transfers and all that.
"But he (Sinclair) has quality and he has already shown it and we will see what decisions we make on that for the future.
"Good players in his position are always an option and he has a British passport which is another thing we have to look at in an overall perspective."
The Dane suggested Sinclair's impressive goal tally while at the club would make him an attractive proposition, given their reliance on Michu's heroics this season.
"That's one thing to consider," he said.
"We need more goals next year. We cannot expect Michu to score as many goals. We've scored 43 goals this season, one less than last season, and we have four games to go. But many of them have come from one player and you cannot put so much pressure on his shoulders.
"I would love Michu to repeat his goal-scoring numbers next year, but we cannot expect it so we have to divide the goals out to more players. We will need to bring in somebody who has scored goals on a regular basis in their career."
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- Roberto Mancini