[The Magpies](https://www.thenorthernecho.co.uk/sport/football/newcastleunited/?ref=ed_direct) have eyes on the AZ Alkmaar teenager as new sporting director Ross Wilson plans ahead for his first transfer windows on Tyneside.
Alkmaar are said to be willing to allow Smit to move on but only if they land a club record fee in excess of £22m.
And Newcastle face fierce competition from the likes of Real Madrid, Barcelona and Bayern Munich, who are all admirers of the 19-year-old. Como and Atalanta have also been linked.
Smit doesn't turn 20 until January but has already established himself as one of the leading lights in the Eredivisie. He has scored two goals and provided four assists so far this season and featured in AZ's recent Conference League defeat to Crystal Palace.
Newcastle scouts have watched and been impressed by the midfielder, but plenty of other clubs are also paying close attention.
**RECOMMENDED READING:**
AZ won't stand in Smit's way if the opportunity to move on presents itself, but the Dutch club would only sanction a sale for a fee in excess of the £21.8m they received for now Manchester City midfielder Tijjani Reijnders when he previously moved to AC Milan.
Dutch national team boss Ronald Koeman recently admitted he's not at all surprised that "big clubs" are showing an interest in Smit. And he understands why the youngster has been compared with Barcelona star Pedri.
Koeman said: “He has the awareness to receive in tight spaces and move the ball forward. That is something we value. The resemblance people see (with Pedri) is in how he positions himself and his decision-making under pressure.
“Big clubs follow players with these characteristics. That is normal. What is important is that he continues developing where he is, playing regularly.”
Newcastle are well stocked in midfield in terms of numbers, but Joelinton has had a mixed start to the season and Joe Willock is a fringe figure now.
Meanwhile, Sandro Tonali is preparing for an emotional return to former club AC Milan.
Tonali is part of the Italy squad that will face Norway at the San Siro on Sunday in their final World Cup qualifier. Italy are preparing for the game at Milan's training ground.
And Tonali told Sky Italia: “It is emotional, the last time was almost three years ago.
"It is a place that is in my heart and every time I go back to Milan will be emotional for me. It’s always going to be wonderful."
Tonali played the full 90 minutes of Italy's 2-0 win over Moldova on Thursday night.
His Newcastle teammate Nick Woltemade is currently away with Germany, and the striker has been reflecting on a "very crazy year".
He said: "I’ve experienced so much – moments I never could have imagined before.
"It’s sometimes hard to grasp. A year like this isn’t something you take for granted. I’m very grateful for it and want to keep working for such amazing moments.”