Quique Sanchez Flores intends to turn down a move to Stoke City and stay at Espanyol.
Former Watford boss Flores was tipped to take over from Mark Hughes, sacked after an FA Cup third-round exit at fourth-tier side Coventry City last weekend.
Stoke, 18th in the Premier League, hoped to agree a deal for the Spaniard, but he has opted against a return to England and will instead remain at Espanyol.
"I am the coach of Espanyol and will continue to be," Flores told a media conference on Saturday. "I belong to Espanyol. I have nothing to explain.