Sinclair left the south Wales club a matter of weeks after Laudrup took over from Brendan Rodgers last summer, joining Manchester City for a fee of £6.2million on the final day of the transfer window.
But the winger has found first-team opportunities limited at the Etihad Stadium, making just two Premier League starts so far this season, and it is far from certain he will feature when City travel to face Swansea on Saturday.
Reports have suggested Roberto Mancini is ready to listen to offers for the 24-year-old, who scored 27 goals for Swansea during their promotion campaign, and a further eight during their first season in the Premier League.
Laudrup would not rule out the prospect of bringing Sinclair back to Swansea, either in a permanent deal or on loan, even though the Dane is also looking at other potential targets.
"We have other players who can play that position that we are looking at," he said.
"We have to make some decisions when we start talking to people about what is possible and what is not. Because it is one thing having names on paper and another when you start talking about salaries, transfers and all that.
"But he (Sinclair) has quality and he has already shown it and we will see what decisions we make on that for the future.
"Good players in his position are always an option and he has a British passport which is another thing we have to look at in an overall perspective."
- Sports & Recreation