Damian McKenzie is contracted to New Zealand Rugby and the Super Rugby Chiefs through 2029.
His deal reportedly permits an overseas stint in 2028, provided he returns for international duties against the British and Irish Lions in 2029.
The Sydney Morning Herald reports the incoming PNG Chiefs have approached McKenzie's management about a rugby league switch after the 2027 Rugby World Cup.
The Papua New Guinea franchise has offered the All Blacks five-eighth a one-year deal, according to the newspaper.
The Chiefs are due to enter the NRL in 2028, when McKenzie would be 33.
He has made 83 appearances for the All Blacks and started at five-eighth against the Wallabies last weekend.
McKenzie also plays for the Super Rugby Chiefs, who are in a legal dispute with the PNG Chiefs over naming rights.
His versatility at fullback and in the halves, international experience and attacking instincts could make him an attractive but unconventional recruit.
A switch remains uncertain, with his commitments to New Zealand Rugby and the All Blacks likely to be central to any discussions.