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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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.