Sanchez Flores emerged as Stoke's top target to succeed Mark Hughes after the Potters had to abandon their hopes of luring Gary Rowett away from Derby after he signed a new contract with the Championship outfit.
'I am and will be the manager of Espanyol, ' he said.
Flores had been expected to tell his current club Espanyol that he was bound for the Premier League strugglers.
He said: "I'm not going to talk about me on such an important day for Espanyol".
Republic of Ireland manager Martin O'Neill has been another name in the frame to replace Hughes, who was sacked by Stoke last week following their humiliating FA Cup defeat at Coventry. "I'm well and quite happy with my situation".
The ex-Atletico Madrid and Benfica boss added: "I'm very grateful to Espanyol, I've been frustrated sometimes because we haven't advanced as fast as desired, but that's because Espanyol haven't been able to, not because they haven't wanted to". I have nothing to explain. "The facts are that the players don't want to leave and the coach also continues". We feel good and it is very hard for someone to leave.
It now looks inevitable that Eddie Niedzwiecki will take charge of the team at Old Trafford for the Monday Night Football clash against Manchester United.