The 35-year-old's contract is due to expire in the summer, with talks over a new deal yet to take place.
Black Cats boss Martin O'Neill is understood to be a keen admirer of Davies's talents, and could move for the Englishman in the next few weeks, according to the Daily Mail.
Davies has appeared 361 times for Bolton.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Burnley | 45 | 27 | 16 | 2 | 66 | 15 | 51 | 97 |
| 2 | Leeds UnitedLeeds | 44 | 27 | 13 | 4 | 89 | 29 | 60 | 94 |
| 3 | Sheffield UnitedSheff Utd | 45 | 28 | 7 | 10 | 62 | 35 | 27 | 89 |
| 4 | Sunderland | 44 | 21 | 13 | 10 | 58 | 41 | 17 | 76 |
| 5 | Bristol City | 44 | 17 | 16 | 11 | 57 | 49 | 8 | 67 |
| 6 | Coventry CityCoventry | 45 | 19 | 9 | 17 | 62 | 58 | 4 | 66 |
| 7 | Middlesbrough | 44 | 18 | 9 | 17 | 64 | 54 | 10 | 63 |
| 8 | Millwall | 44 | 17 | 12 | 15 | 45 | 46 | -1 | 63 |
| 9 | Blackburn RoversBlackburn | 44 | 18 | 8 | 18 | 50 | 46 | 4 | 62 |
| 10 | West Bromwich AlbionWest Brom | 44 | 14 | 18 | 12 | 52 | 44 | 8 | 60 |
| 11 | Swansea CitySwansea | 44 | 17 | 9 | 18 | 48 | 52 | -4 | 60 |
| 12 | Watford | 44 | 16 | 8 | 20 | 51 | 58 | -7 | 56 |
| 13 | Sheffield WednesdaySheff Weds | 44 | 15 | 11 | 18 | 58 | 67 | -9 | 56 |
| 14 | Norwich CityNorwich | 44 | 13 | 14 | 17 | 67 | 66 | 1 | 53 |
| 15 | Queens Park RangersQPR | 45 | 13 | 14 | 18 | 52 | 63 | -11 | 53 |
| 16 | Portsmouth | 44 | 14 | 10 | 20 | 56 | 69 | -13 | 52 |
| 17 | Stoke CityStoke | 45 | 12 | 14 | 19 | 45 | 62 | -17 | 50 |
| 18 | Preston North EndPreston | 44 | 10 | 19 | 15 | 45 | 55 | -10 | 49 |
| 19 | Oxford UnitedOxford Utd | 44 | 12 | 13 | 19 | 44 | 62 | -18 | 49 |
| 20 | Luton TownLuton | 45 | 13 | 10 | 22 | 42 | 64 | -22 | 49 |
| 21 | Hull City | 44 | 12 | 12 | 20 | 43 | 52 | -9 | 48 |
| 22 | Derby CountyDerby | 44 | 12 | 10 | 22 | 47 | 56 | -9 | 46 |
| 23 | Cardiff CityCardiff | 44 | 9 | 16 | 19 | 46 | 69 | -23 | 43 |
| 24 | Plymouth ArgylePlymouth | 44 | 10 | 13 | 21 | 48 | 85 | -37 | 43 |
| > Championship Full Table | |||||||||
