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 | Wycombe WanderersWycombe | 13 | 9 | 2 | 2 | 31 | 16 | 15 | 29 |
| 2 | Birmingham CityBirmingham | 12 | 9 | 2 | 1 | 23 | 11 | 12 | 29 |
| 3 | Wrexham | 13 | 7 | 4 | 2 | 21 | 10 | 11 | 25 |
| 4 | Mansfield TownMansfield | 12 | 7 | 3 | 2 | 20 | 14 | 6 | 24 |
| 5 | Lincoln CityLincoln | 13 | 7 | 3 | 3 | 20 | 16 | 4 | 24 |
| 6 | Bolton WanderersBolton | 13 | 7 | 2 | 4 | 22 | 19 | 3 | 23 |
| 7 | Huddersfield TownHuddersfield | 13 | 7 | 1 | 5 | 19 | 12 | 7 | 22 |
| 8 | Barnsley | 13 | 6 | 4 | 3 | 21 | 18 | 3 | 22 |
| 9 | Reading | 13 | 7 | 1 | 5 | 21 | 20 | 1 | 22 |
| 10 | Stockport CountyStockport | 14 | 5 | 6 | 3 | 20 | 17 | 3 | 21 |
| 11 | Exeter CityExeter | 12 | 6 | 1 | 5 | 13 | 10 | 3 | 19 |
| 12 | Charlton AthleticCharlton | 13 | 5 | 4 | 4 | 15 | 14 | 1 | 19 |
| 13 | Peterborough UnitedPeterborough | 14 | 5 | 3 | 6 | 25 | 26 | -1 | 18 |
| 14 | Rotherham UnitedRotherham | 14 | 4 | 5 | 5 | 14 | 16 | -2 | 17 |
| 15 | Stevenage | 14 | 5 | 2 | 7 | 10 | 15 | -5 | 17 |
| 16 | Blackpool | 13 | 4 | 4 | 5 | 21 | 25 | -4 | 16 |
| 17 | Bristol Rovers | 13 | 5 | 1 | 7 | 15 | 20 | -5 | 16 |
| 18 | Northampton TownNorthampton | 13 | 4 | 3 | 6 | 17 | 20 | -3 | 15 |
| 19 | Wigan AthleticWigan | 13 | 3 | 5 | 5 | 12 | 11 | 1 | 14 |
| 20 | Leyton Orient | 13 | 3 | 2 | 8 | 11 | 18 | -7 | 11 |
| 21 | Crawley TownCrawley | 14 | 3 | 2 | 9 | 12 | 25 | -13 | 11 |
| 22 | Cambridge UnitedCambridge | 12 | 3 | 1 | 8 | 11 | 17 | -6 | 10 |
| 23 | Shrewsbury TownShrewsbury | 14 | 2 | 2 | 10 | 13 | 25 | -12 | 8 |
| 24 | Burton Albion | 13 | 0 | 5 | 8 | 13 | 25 | -12 | 5 |
| > League One Full Table | |||||||||
