"Let me clarify that deadline was for me and Eric to get on the same page," said Davys.
"So we don't have to sign a contract for a sale of the club [today].
"We just need to get on the same page and we're on the same page now and I'm doing the due diligence, and what will come out of that will be whether I'm interested in taking the club on, or whether Eric's interested in selling it to me.
"I wouldn't say a firm agreement [has been reached] and the deal's done. At the end of the day, it will be Eric's decision what he does."
Davys is prepared to stump up his own cash to buy the club and says Warriors fans need not worry about whether he can afford to fund the venture.
Watson has provided the Warriors with financial security for the past 17 seasons but Davys, who co-owns childcare company ChoiceKids and has property investments to his name, insists he's no fly-by-nighter.
"There's all this speculation about Paul Davys, the businessman, and how many childcare centres I own and whether I can afford it," he said. "The money won't be coming from a childcare business, that's totally separate."
It remains unclear whether a change in ownership would lead to widespread changes in the club's management and football departments.
Davys told the Herald on Monday that he wants managing director Jim Doyle to remain, while he has also moved to diffuse speculation that coach Stephen Kearney would likely find himself out of a job.
"I haven't met Stephen. The Warriors are quick to blame the coach every year, and I'm not saying whether Stephen's done a great job or a poor job, I don't know.
"It's a bit unfair on Stephen. He's trying to coach a team and all of a sudden he's getting hit with a potential sale. He's obviously come here to make a difference to this club and it's unfair for him to be dragged into this."
Davys has clear ideas on what kind of players he wants at the club and has already made enquiries with some, including former Warriors front-rower Suaia Matagi. Getting the best out of the club's existing talent is his first priority.
"You've got Shaun [Johnson] sitting in there - it's like having a Ferrari sitting in the garage, so you've got to find a way to get Shaun going.
"And Shaun can't be running at a brick wall all the time, he needs people to do that for him to create space, so I need some guys that can do that for him. Whether I can do that straight away or not, I don't know."
Part of the due diligence process will be for Davys to sit down with the NRL and ensure he meets the criteria they want in a club owner. That will take place in the coming days and Davys is bullish about his chances.
"I'm always confident, mate."
