The Spain striker was aware of interest from the Toffees in the 2013 winter transfer window but wanted to focus on finishing the Primera Division season with Sevilla
The Spain international made the switch to the Etihad Stadium from Sevilla in the summer, and has been an instant hit with supporters thanks to his 18 goals in all competitions.
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"There were some rumours about a move to Everton but I just wanted to finish the season with Sevilla," he told reporters.
"I wanted to wait until it got to the summer before I started looking at other options. I never really considered the possibility of moving in January."
Negredo's impressive form continued with a hat-trick in City's 6-0 hammering of West Ham in the first leg of the Capital One Cup semi-final on Wednesday. He is now one goal adrift of Sergio Aguero in the race to be the club's top goalscorer.
Aguero has been absent in recent weeks with a calf injury but Negredo realises it will still be difficult to outscore the Argentina international.
He added: "I need to get more and catch him up because I know when he comes back he will score more goals."