Cahill has been linked with the likes of Manchester City, Liverpool and Arsenal in recent months.
“You expect someone to come in at some stage for someone as good as him,” said Davies.
“As far as I know we have never had an offer for him and we’ll keep an eye on it over the summer.
“It’s a difficult one because he’s a great player and we’d love to keep him. But at the same time you would not want to deny him the chance to go somewhere else.”
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.