Midfielder Guy Moussi and forwards Dele Adebola, Robert Earnshaw and Nathan Tyson are four of six Reds players set to see their current deals expire at the end of the season.
Davies believes the timing of holding such negotiations could have a bearing on the club`s promotion challenge.
"I have six out-of-contract players in the summer waiting to see what goes on," said the Scot. "I don`t know what the contract negotiations are with Robert Earnshaw, with Guy Moussi, Nathan Tyson or Dele Adebola. We have six players out of contract and I don`t know what the situation is.
"I don't know where we are on that but there is a psychology involved when you sign players on to a new contract or when you don`t.
"We don`t want that to affect what is going on here. I have given my evaluation of the situation and it is in other people's hands."