Davies, 35, is out of contract at the end of this season. But he has no complaints about being kept guessing about his future - along with several other senior players - until the club knows its fate.
He said: "The club means a lot to me. I've been here nine years, I've played more than 350 games and loved every minute.
"There have always been battles going on, fantastic times where we were even pushing to make the Champions League.
"We've played in Europe, had a Carling Cup final and an FA Cup semi-final and this time we've something even more important to go for.
"You're fighting for yourselves, your families, your futures and, of course, the club. It's not only players' jobs that are at risk if we go down.
"Every player will have their own feelings about the contract situation. Some would prefer to get it sorted because they feel more confident with the security of a new contract. They might have worries about form, age, or what is going to happen next year.
"But for me those things take care of themselves."