Reports claim that the former Reading player is set to pocket a larger salary at Tottenham than he would have got at Swansea.
The Swans looked to be in pole position for Sigurdsson’s signature once they agreed a fee with Hoffenheim, but after Brendan Rodger’s departed for Liverpool, Sigurdsson had second thoughts about remaining in Wales.
The move would have seen Swansea smash their current wage bill and Hugh Jenkins believes it was the right decision to make.
“Gylfi was a signing that was on the cards when Brendan was with us,” Jenkins said.
“Once Brendan decided to embark down a different route then that signing always looked unlikely. The bid was there but nothing has been discussed since; our focus was on bringing in the new manager.
“The delay in signing Gylfi – probably three weeks – meant I believed it was the right thing not to push that signing. It was the right thing to wait and make a joint decision.”
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Jenkins also believes that new manager Michael Laudrup should be able to spend the clubs money on his own targets, and will have the opportunity to use the money the club were willing to pay for Sigurdsson.
“It was left and Michael’s thoughts are with that sort of transfer fee we were about to commit to, with wages and fees involved, then it’s a general discussion on what else you can spend that money on.
“Michael should be given the opportunity to look himself and make decisions on what he wants. He can stamp his own authority and own policy on players and the team.
“Looking at Gylfi – and perhaps Steven Caulker – they were last year’s players, they did very well for us but time moves on.
“We’re in a new era with Michael Laudrup in charge, it is Michael’s chance to consider the options and make the right decisions.”