The 27-year-old striker has been linked with a number of teams across Europe in recent months thanks to his record of 18 goals in La Liga this season.
"I don't think it's possible [to sign Negredo] because I know there are other teams who want him," Laudrup told reporters.
"I think we're talking double figures in terms of millions of pounds, so I don't think we can. It's out of our league. We cannot pay £10m, £12m or £14m."
Negredo, who has 14 caps for the Spanish national team, joined Sevilla from Almeria in 2009.