The striker left Real Madrid last summer and joined Almeria.
Real inserted a buy-back clause in the deal and they will now take the player back for 4 million euros (£3.1million) before selling him on - with reports claiming he could go for up to 12 million euros (£9.4million).
It is claimed in Spain that Newcastle and West Ham are keen to sign him, but Tottenham have also been credited with an interest after they scouted him late last year.
Negredo's agent Junma Lopez says he will meet with Real next week to talk over his future: "We still have not had any news from Real and I will attend a meeting next week to clear the subject.
"If Real does not accept a deal then he will remain with Almeria."