Smith has been linked with a move to powerful Irish club Munster.
Irish media has reported Munster is looking to attract private investment to help finance a deal with Smith.
Traditionally, the real big money moves of New Zealand players have been to English and French clubs, but Munster want to compete on the European stage and are said to be looking to make a play for Smith.
Sometimes though many of these links are just that — talk and little comes of it.Smith is attracting plenty of attention with French club Pau believed to have made a sizeable offer for him.
What is likely to continue to happen is clubs in the northern hemisphere will make offers, or reportedly make offers, and sometime Smith will have to make a decision.
He is contracted until the end of next year and will have the Highlanders season and then the test series against the British and Irish Lions to worry about.
Earlier this week, New Zealand Rugby chief executive Steve Tew admitted the national union did not have the financial muscle to compete with the big clubs in Europe.
A new collective deal with players over the next three years had added $9 million to the pot to keep top players in the country.
Tew said this would still not be enough to keep the likes of Smith in the country, if it was solely down to money.
But the national union had other ways to keep players in the country, Tew said, and many players wanted to stay and play for the All Blacks.
When Smith (30) will make a decision is unknown and he is on leave from the Highlanders until the end of next month.
New Zealand Rugby would like to have any decision made sooner rather than later, so it can put the speculation to rest and start planning for the future with or without Smith.