Peace said: "We had inquiries from both of the clubs mentioned. We took the view we did not wish to loan out a player whose transfer request we had accepted only reluctantly. But we would consider transferring him if we got what we considered to be an acceptable offer. Until then he will remain an employee of West Bromwich Albion and we have told him we expect him to give 100% for us while he is here."
An 'acceptable offer' is thought to be anything around the £2m mark.
Moyes closes in on West Brom striker
West Brom chairman Jeremy Peace has confirmed that both Everton and Chelsea have made enquiries about the player, but he has so far refused to give any more details.