The Potters would have to pay compensation to Espanyol due to the 52-year-old being under contract with the 14th-placed La Liga club until 2019. Flores took the helm in the summer of 2016, and led the Periquitos to eighth last season.
There are several other candidates being weighed up to replace Mark Hughes, including Ireland handler Martin O'Neill. The veteran coach is yet to commit to longer terms in his current role after failing to book a ticket to the 2018 World Cup. Even if he does sign fresh paperwork there is the possibility of him simultaneously juggling duties between Stoke and Ireland, if granted permission by the FAI.
O'Neill's links to the Stoke job strengthened when Gary Rowett signed a new contract with Derby County on Tuesday. The Belfast Telegraph relayed reports from Wednesday claiming that O'Neill was set to hold talks with the Stoke hierarchy before making a decision of his future in the international game.
Dennis and Ferrington believe Stoke, which is mired in the Premier League's relegation zone, is hoping to name Hughes' successor before Monday's trip to Manchester United. The axe was wielded on Hughes' tenure when Stoke embarrassingly fell 2-1 at League Two's Coventry City in Saturday's FA Cup third-round tussles.