The Tigers had emerged as surprise candidates - along with Stuttgart, Roma and Zenit St Petersburg - to sign the Spaniard, who bagged 32 league goals in 70 outings for Almeria after arriving from Real's B team in 2007.
However, despite reports that the KC Stadium outfit were closing in on a £12 million deal for the front-man, Hull chairman Paul Duffen confirmed that the club were unable to seal a deal for his services.
And boss Brown said the club had pulled out all the stops to try and make Negredo City's most expensive signing ever.
“The lad has decided to stay in Spain," he said.
“We did everything we possibly could and I take my hat off to the chairman for the things he did in getting a world-class player to even talk to us.
“But that’s dead now, it’s on the wave behind and we’ll try to get the next one.
“I’m very disappointed. There was a lot of effort and energy, not just from myself, for the last six weeks we were working hard at it.”
Negredo joins a a growing list of strikers to have turned down the Tigers this summer, with Michael Owen, Bobby Zamora, Darren Bent and Fraizer Campbell all strongly linked with a move to the KC Stadium.
NEWS: Sevilla set to sign Negredo
NEWS: Hull close in on Negredo capture
NEWS: Hull line up Negredo move
NEWS: Zenit enter race for Negredo
NEWS: Negredo open to Roma move
NEWS: Stuttgart set sights on Negredo
NEWS: Negredo subject of multiple English interest
NEWS: Negredo set for Premier League switch
NEWS: Negredo tipped for Anfield exchange deal
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