It’s understood the Welshman - who had an earlier stint as interim coach following the exit of John Aloisi in late 2018 - has been handed a one-season deal beyond the remainder of the current campaign.
The impending appointment speaks more of consolidation rather than unbridled ambition in a climate of austerity ushered in by a reduction in the value Fox Sports broadcast deal and the uncertainty invoked by the coronavirus pandemic.
There may also be an element of promoting a familiar face after the disappointment felt by the club at losing Liverpool legend Fowler after just 24 games in charge.
The former Melbourne Victory and Young Socceroos assistant has been with the Roar just over two years and worked alongside Fowler and his number two Tony Grant before their departures were confirmed late last month.
His previous taste of the top job, admittedly during a period of upheaval and instability, brought just three wins from 18 matches, 12 of which ended in defeat.
Davies, who will be assisted by current number two Warren Moon next season, stated in the aftermath he wouldn’t be applying for the role which ultimately went to Fowler.
It appears now his appetite for the position has been reignited.
Brisbane sit fourth on the ladder after overcoming a difficult start to the season and have four games remaining.
A revised full A-League draw is due to be released imminently.
Brisbane were approached for comment by The World Game.