Stephen Holder of the Tampa Bay Times reports that the deal is not complete, but talks continue.
According to Marvez's initial report, Davis would serve as a senior defensive assistant on Schiano's staff. Schiano spent two seasons working as the defensive coordinator under Davis with the Miami Hurricanes.
Davis, 60, coached at the University of North Carolina from 2007-10 before he was fired last July following an NCAA investigation into Tar Heels players receiving improper benefits from agents. Davis spent last season on the NFL Network's "NFL Playbook" program. Davis has coached at the NFL level with the Dallas Cowboys (1989-94) and was the head coach of the Cleveland Browns from 2001-04.
For more on Schiano's coaching staff, be sure to check out Buccaneers blog Bucs Nation.