Davies, 27, played a key role in Birmingham's Championship promotion push last season, and Hughton is understood to be keen to have him on board.
However, according to Sky Sports News, the Norwich boss is refusing to meet Birmingham's asking price of £5m.
Hughton took charge of the Canaries earlier this month.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Wrexham | 6 | 4 | 1 | 1 | 12 | 5 | 7 | 13 |
| 2 | Birmingham CityBirmingham | 5 | 4 | 1 | 0 | 11 | 6 | 5 | 13 |
| 3 | Charlton AthleticCharlton | 6 | 4 | 1 | 1 | 6 | 3 | 3 | 13 |
| 4 | Huddersfield TownHuddersfield | 5 | 4 | 0 | 1 | 10 | 3 | 7 | 12 |
| 5 | Stockport CountyStockport | 5 | 3 | 2 | 0 | 9 | 2 | 7 | 11 |
| 6 | Lincoln CityLincoln | 5 | 3 | 1 | 1 | 10 | 6 | 4 | 10 |
| 7 | Barnsley | 6 | 3 | 1 | 2 | 10 | 9 | 1 | 10 |
| 8 | Mansfield TownMansfield | 5 | 2 | 2 | 1 | 9 | 10 | -1 | 8 |
| 9 | Stevenage | 5 | 2 | 1 | 2 | 5 | 3 | 2 | 7 |
| 10 | Wycombe WanderersWycombe | 5 | 2 | 1 | 2 | 10 | 9 | 1 | 7 |
| 11 | Peterborough UnitedPeterborough | 5 | 2 | 1 | 2 | 7 | 7 | 0 | 7 |
| 12 | Reading | 5 | 2 | 1 | 2 | 5 | 5 | 0 | 7 |
| 13 | Crawley TownCrawley | 5 | 2 | 1 | 2 | 4 | 6 | -2 | 7 |
| 14 | Bristol Rovers | 6 | 2 | 1 | 3 | 4 | 8 | -4 | 7 |
| 15 | Wigan AthleticWigan | 5 | 2 | 0 | 3 | 6 | 5 | 1 | 6 |
| 16 | Exeter CityExeter | 5 | 2 | 0 | 3 | 6 | 6 | 0 | 6 |
| 17 | Rotherham UnitedRotherham | 6 | 1 | 3 | 2 | 5 | 7 | -2 | 6 |
| 18 | Northampton TownNorthampton | 5 | 1 | 2 | 2 | 5 | 6 | -1 | 5 |
| 19 | Blackpool | 5 | 1 | 2 | 2 | 9 | 12 | -3 | 5 |
| 20 | Burton Albion | 5 | 0 | 4 | 1 | 7 | 8 | -1 | 4 |
| 21 | Bolton WanderersBolton | 5 | 1 | 1 | 3 | 2 | 9 | -7 | 4 |
| 22 | Leyton Orient | 5 | 1 | 0 | 4 | 3 | 8 | -5 | 3 |
| 23 | Shrewsbury TownShrewsbury | 6 | 1 | 0 | 5 | 4 | 10 | -6 | 3 |
| 24 | Cambridge UnitedCambridge | 5 | 0 | 1 | 4 | 5 | 11 | -6 | 1 |
| > League One Full Table | |||||||||
