Manuel Pellegrini had been hoping to tie up a deal for the hitman this week, but his offer of around £20million has been flatly rejected by the La Liga club.
City look close to completing the signing of Fiorentina forward Stevan Jovetic, and see Negredo as the missing piece in their strike-force.
Cash-strapped Sevilla are holding out for as much money as possible for the 27-year-old, although an offer of closer to £25million is likely to be accepted.
Pellegrini is understood to have made Negredo his number one target after missing out on Uruguayan forward Edison Cavani, who took a step closer to joining Paris St Germain after passing a medical last night.
The president of Sevilla Del Nido said recently: “With Negredo there has been progress but we are far from reaching an agreement. Right now it’s further away than it was at the time with Atletico Madrid.”
Sevilla have put a valuation on Negredo and either Sevilla are paid what they’re asking for or he stays for another three years.
“I’m not saying the price that’s been put on him. The ideal thing would be that he remains in Sevilla and renews for another two years,” Del Nido added.
“We are in no hurry. We are in a better situation than a month ago and we’ve shown that with the signings that we’ve made.”
Negredo has established himself as one of La Liga’s most deadly strikers in the last few years, with an impressive record of 70 goals in 139 appearances over the past four seasons.
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