Martin O'Neill and Derby County manager Gary Rowett have been linked with the job vacancy, with the latter recently ruling himself out of a move after he signed a new deal with the Rams.
Update: Guillem Balague now reports Flores is staying at Espanyol, which suggests something has gone very wrong at the last minute.
Flores will not be returning to the Premier League, this season at least, as he re-affirmed his commitment to the La Liga outfit.
The Potters had agreed to pay the Spanish club £3.5m in compensation, and had made Sanchez Flores an offer of a five-year contract.
Quique Sanchez Flores has announced that he intends to remain with Espanyol amid widespread speculation that he had been offered the Stoke City job. I do not understand that you put so much effort in coach. "I'm well and quite happy with my situation".
Flores waves to fans after leading his side to victory over Malaga in La Liga on Monday night
"I have nothing else to add, only that I have to focus on the next LaLiga match". It's a day for Espanyol, for the club, for the players, it's a day to celebrate for having qualified for the quarters.
"I do not talk about me".
They were both present at the SWAI Awards last night but kept a low profile, refusing to comment on the matter.
Luke Edwards of the Telegraph, a journalist who has close ties with the O'Neill camp, is reporting that Stoke now want the Ireland boss but heis still undecided.
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