Davies’ contract with the Rams ends this summer and with Derby still not out of the woods in terms of their administration problems there might be trouble in extending his stay at Pride Park.
The centre-back might not even have played for the Rams this season, but Derby were able to sign him on a one-year contract last summer.
He has impressed for the Rams in a troubled season that ended with relegation, playing every minute in the league and scoring four goals.
Bristol City boss Nigel Pearson is an admirer of the centre-back and wants to take him to Ashton Gate.
The Robins boss thinks Davies would add some much-needed experience to a young team and is hoping to secure his signature on a free transfer.
Prospective Derby owner Chris Kirchner has communicated to Davies that he wants him to extend his stay at the club.
It remains to be seen if Davies is attracted by the lure of the Championship to sign for Bristol City or if he is willing to play in League One with Derby next season.
