Dutch international De Guzman has admitted that a return to the Liberty Stadium would interest him, and Swans chairman Huw Jenkins has confirmed that positive negotiations are taking place to try to ensure that materialises.
Jenkins told the South Wales Evening Post: "I have met with Jonathan's agent and he is comfortable with where we are at.
"Hopefully we can tie something up with Villarreal soon. We are optimistic about that happening."
De Guzman, who previously worked with Laudrup during the Dane's tenure at Real Mallorca, netted eight times in 45 appearances for Swansea during the 2012-13 season.