The Scottish tactician has been out of a job since departing Forest in March 2014 following a five-year stint at City Ground.
Davies, who was also in charge of Scottish Premiership club Motherwell between 1998 and 2001, has been tipped to secure the vacant job due to his experience.
Former Derby chief Don Amott rates Davies as a top manager and has backed the 59-year-old to turn Rangers’ season around if he lands the job.
While in charge of Derby, Davies defied the odds to lead the Rams into the Premier League in 2007, securing promotion after winning the play-off final.
Amott believes Davies is the right man to get Rangers’ season back on track with the Teddy Bears losing ground on Celtic in the Premiership title race.
“I am no doubt that Billy Davies would bring success to Rangers,” Davies said (via the Daily Record).
“I am in absolutely no doubt about that at all. He has the experience, is a proven manager and a top, top coach.
“I know Rangers haven’t made the best of starts to the season, but Billy has shown at every club he has been at that he can come in and get results.
“Billy has great experience in the game, and that is important for a top job like Rangers. I honestly believe he would do well at Rangers.”
Rangers parted ways with Michael Beale three days ago following an embarrassing 3-1 defeat to Aberdeen in the Premiership.
Beale enjoyed a fruitful start to life at Ibrox Stadium after he arrived at the club just over a year ago, but the recent run of results has forced the hierarchy to make changes in the dugout.
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