The Latics defender has confirmed an approach was made earlier this month from his former club Bolton Wanderers – but rejected by the club’s owners.
Wheater played for eight years at Bolton and made 236 appearances, moving to Boundary Park last summer on a free transfer with the Whites still in administration.
The terms of his contract triggered a one-year extension option in Oldham’s favour if he played 20 games, something he achieved shortly after Christmas.
Bolton cannot pay transfer fees, as per the terms of their embargo, which leaves the League Two club in a strong position.
Wheater says he is enjoying his time with Oldham and is relaxed about the situation.
"Keith Hill rang our manager and our manager told me," Wheater told BBC Radio Manchester.
"He said: 'I don't want you to go but I want to tell you because I'd like that as a player'.
"I then bumped into one of the owners and they said I wasn't going, basically. I told them I was happy here (Oldham) anyway.
"I never asked for a transfer request from Middlesbrough or Bolton and I'd never do that to disrupt anything.
"If they wanted to sell me it'd be a different matter but they've told me I'm not going anywhere so I'm happy.
"I think they'd want money if I was going to sign. I don't know if Bolton are allowed to spend money yet or not, but I'm happy here."
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