Davies' name has been linked with the Celtic manager's job, and while the Scot last night insisted his only focus at present is guiding Forest back into the Premier League via the forthcoming play-offs, his representative Jim Price was a little more forthright in his views.
Price said: "I think the idea that Billy is an out and out Rangers man is a bit of a myth. I certainly don't see why Billy couldn't be a successful manager at Celtic or Rangers or wherever."
While interim Celtic manager Neil Lennon remains the 11-8 favourite with bookmakers to be handed the job on a permanent basis, until an announcement is made other candidates will continue to make their interest known and the former Sevilla manager, Manolo Jimenez, has revealed he would "love" to manage the Parkhead side.
The 46-year-old, who masterminded two Champions League victories over Rangers this season, has been out of work since being sacked last month.
He said: "I'd love to coach Celtic because they are the Real Madrid or Barcelona of Scotland with the biggest support. I was manager of the Sevilla B team when Celtic fans invaded Seville for the Uefa Cup final against Porto. Seville welcomed the Celtic fans and they will always be remembered."
Former Spain international Jimenez took charge of Sevilla in 2007, leading them to fifth and third in the Primera Liga, and the last 16 of the Champions League in 2008 as well as this season.
Meanwhile, Celtic chairman John Reid has vowed to do everything possible to help the club wrest the Clydesdale Bank Premier League title from Rangers next season. Reid and his fellow board members have come under fire for a perceived lack of investment at Parkhead, which many claim is a major factor behind one of the most miserable campaigns in Celtic's recent history.
Speaking at the club's annual Player of the Year awards this week, Reid said: "It is times like this when the character of a club is tested. Clearly, this has not been the easiest or the best year for anyone involved with the club. It has been difficult, it has been challenging."
At Ibrox, meanwhile, Rangers defender David Weir believes it is their desire and consistency throughout the team that has left them on the verge of their second consecutive Scottish Premier League title.
Rangers will clinch the championship on Sunday if they take a point from their clash against Hibernian at Easter Road.
They may not even need to do so given Celtic must beat Dundee United beforehand to keep the issue alive. Weir feels being in such a strong position with four matches remaining is testament to their will to win throughout the campaign.
"We have a desire every weekend, you've got to have a desire every weekend," the 39-year-old said. "That's what drives us on, regardless of what's at stake. You are playing for Rangers, you have got to win every game. "It's Hibs away, which is always a difficult game, so we have to turn up."
Motherwell have won a small concession from the Scottish Premier League after complaining over their post-split fixtures, with their home clash against Hibernian moved forward 24 hours from election night. Hibs had been due to visit Fir Park on Thursday, 6 May on a date picked with television schedules in mind, but the match will now take place on the Wednesday.
Hibernian's Ian Murray will not be suspended for the final Edinburgh derby of the season. The club had feared Murray's sixth yellow card of the campaign had taken him through the disciplinary threshold, but the SFA confirmed yesterday he is still below the points tally.