The Royals had been hoping that Shorey would agree a deal to ward off potential suitors after being linked with West Ham, Manchester City and Newcastle.
Instead, he has decided to turn down the chance of a bumper pay rise to make sure his options remain open.
Coppell insisted he was not unduly worried as the 26-year-old still has two years of his existing contract to run, as does England Under-21 striker Leroy Lita who is another the Royals have failed to tie down on a longer deal.
Coppell said: "Nicky Shorey is going to stick with his current situation and there are no new contracts imminent.
"Both have two years left so it's not of immediate concern to us. We are realistic about the situation."