King has been linked with a move to the Ospreys

The 27-year-old New Zealander, who has a year left on his contract, has been linked with a move to rivals the Ospreys.

But Davies said there would be "no chance" of King leaving.

"Regan is contracted here until 2009, we want him to stay here for the rest of his career and he is aware of that," Davies told BBC Wales Sport.

606: DEBATE Can the Scarlets hold on to Regan King?

"We've been speaking to him for the last six months about extending his contract and that's where we are with it."

The Scarlets are still in shock at the loss of Peel to Sale at the end of the season and Davies knows it will be difficult to fill his shoes without any other possible departures.

But he remains upbeat about the region's future.

"We are disappointed to have lost one of our key players, but we have people coming through the system now who have gained experience over the last couple of years," he said.

"We're not going to replace Dwayne Peel, it's as simple as that. But we've been able to bring players in to develop and we're also looking to bring world class players here.

"Our policy is to find and develop the best people to fill these Scarlets jerseys."

Meanwhile, the Scarlets have signed Samoan hooker Mahonri Schwalger on a short-term contract until the end of the season.