It has been suggested the Premier League outfit could take advantage of the West Midlands club’s sticky financial situation and make a cut-priced bid for the former Aston Villa and West Brom defender.
Davies has been one of the Blues’ most consistent performers this season, and McDermott revealed a number of moves could be completed before the window shuts on Thursday.
“Possibly, we shall wait and see. We have got a couple of things we are trying to do,” he said.
But when asked about Davies, the Royals boss simply answered, “No.”