When the left-sided player entered the final 12 months of his contract in the summer, the assumption was that he would either extend his terms or be sold.
The Bundesliga giants had been adamant in other cases that they would not risk the Canada international becoming a free agent in 2025.
Nevertheless, Davies has remained with Bayern and made five appearances in all competitions during 2024-25, three of which have come from the starting lineup.
On Saturday in the game against Werder Bremen, he reached the 200-appearance mark for the German side, a total of 11 goals and 32 assists being recorded during that period.
However, speculation persists that the 23-year-old will eventually take on a new challenge, a transfer to Real Madrid being consistently suggested as the most likely outcome.
Davies speaks on his future
Having completed the 90 minutes versus Bremen on Saturday, Davies was quizzed on his future amid reports that there had been a lack of progress in negotiations with Bayern officials.
The report in question indicated that talks were 'non-existent', and Davies has now hinted that he does not know where his future lies.
As per BILD, he said: "I'm fully focused on Bayern.
"Regardless of whether I stay or leave the club, I will always carry this club in my heart. New deal? Good question. You should ask my agent about it."
An inevitably about Real Madrid move?
Throughout the most recent transfer window, it was widely believed that Real would eventually agree a fee with their Bayern counterparts for Davies.
Instead, it is alleged that no formal proposal was presented to Bayern, Los Blancos allegedly of the opinion that they expect to sign him as a free agent in July 2025.
Ferland Mendy and Fran Garcia are the current options at left-back for Carlo Ancelotti, the former having less than 12 months remaining on his contract despite being a regular in the starting lineup this season.