The Daily Mail says new Tottenham manager Mauricio Pochettino wants the Wales international to be his first choice left back next season.
But the club's failure to strike a deal with Swansea has left Tottenham officials considering alternatives.
Spurs and Swansea have been locked in talks over a proposed move for Davies - who is valued at £12million - to White Hart Lane.
Pochettino remains interested in Davies, but is now assessing alternative options.
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