President Jose Maria del Nido revealed that Sam Allardyce’s side had tabled a bid for the 27-year-old Spain international, which was subsequently rebuffed.

West Ham's failed bid comes after Sevilla agreed a deal to sell winger Jesus Navas to Manchester City for £24 million.

But Del Nido says the La Liga club do not need to cash in on Negredo, who scored 31 goals in all competitions last season.

"He has four years left on his contract," De Nido said. "He is at home here. He has scored a lot of goals and delighted us with his football.

 "The summer will tell us in due course if he will still be with us, but if you ask my opinion I'd rather there were no bids.

"West Ham offered €17 million in cash with more in incentives but we do not value the offer and the player refused.

"The prices at which we have sold Jesus Navas is an amount much higher than we thought they were going to offer, especially as there was only one bidder.

"We do not yet know the final figure as there are many variables and incentives in the deal. But we have no need to sell as this has covered our budget deficit.

"In the past we have been willing to sell a player if the market value is offered, but so far all the offers that have come in have been rejected."