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Reports in the Sunday Mail newspaper seem to think that Davies would jump at the chance of join North of the border again and managing in the SPL.
His opening may come at Hibs who are currently looking for a quality manager and have already identified John Collins and Mixu Paatelainen as potential replacement for Tony Mowbray who moved south of the border down to WBA last Friday.
The rumour of Davies's departure are further enhanced by the fact that he has just purchased a house in Glasgow, even though he has a home in Horsley near Derby at the moment.
So it now remains to be seen if the diminutive Scot will want a job closer to his birthplace