The 27-year-old has been linked with a number of Premier League clubs but, despite Sevilla's cash troubles, he is unlikely to cost less than £15million and Laudrup feels that would be too much for the Swans.
The former Real Madrid player has scored 18 goals in La Liga so far this season, making him the fourth top-scorer behind Lionel Messi, Cristiano Ronaldo and Radamel Falcao.
Laudrup has already admitted a striker is top of his summer wish-list, and Swansea have been linked with Celta Vigo's Iago Aspas and Chelsea's Romelu Lukaku among others, but he says getting Negredo to South Wales is one deal that is unlikely to happen.
"I don't think it's possible because I know there are other teams who want him," Laudrup said.
"I think we're talking double figures in terms of millions of pounds, so I don't think we can (sign him). It's out of our league. We cannot pay £10m, £12m or £14m."