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.
Sanchez Flores is now at the helm of Espanyol in La Liga and is under the contract with the Spanish outfit until 2019. "I'm well, absolutely content with my situation", Flores told Sky Sports on Saturday.
There had seemed to be real progress with the club ready to unveil him, however this morning it's emerged he's now turned down an offer.
"Here I have all I need". Football brings up these kind of situations where clubs ask. here at Espanyol it is hard to move someone.
O'Neill had effectively chose to remain in the Ireland job on Friday as both he and Keane are excited by the challenge of building a new, younger Ireland squad during their European Nations Cup campaign, which starts later this year. We feel good and it is very hard for someone to leave. "I don't have to explain anything else".
Eddie Niedzwiecki has been in temporary charge since Hughes' departure, taking training ahead of the Monday's league trip to Manchester United.