The Telegraph claim that Liverpool manager Brendan Rodgers has upped his previous offer in an attempt to hijack an almost completed £10m deal with Spurs.
The Reds previously had an £8m offer rejected by the Welsh club, but Rodgers appears confident that a reunion with the player, who was in the youth team when he was Swansea manager, not to mention the chance to play Champions League football next season will be too much to pass up.
Davies, 21, started 32 games last season for the Welsh club and is highly regarded in his position helping his side reach 12th in the Premier League table. This was despite problems that saw manager Michael Laudrup out and ex Swansea defender Garry Monk in.
Now after the not so shocking departure of Luis Suarez to Barcelona for a whopping £70m, Liverpool have a huge kitty to spend before they begin what will be a busier fixture list, and are willing to splash out on their top targets.
Davies would make a good signing for either team, but Liverpool would be the more career defining option for the young player and therefore seems the most likely destination.
Liverpool supporters. Do you think Ben Davies will be a Liverpool player next season? Should Liverpool keep raising their offer? Let us know your thoughts below or tweet us @LaFootyettes