Real Madrid are exploring numerous profiles as they search for a new conductor in midfield, with the club's primary focus reportedly on closing in on Fernandez following the arrival of Marc Cucurella from Chelsea.
Alongside that pursuit, however, a secondary story has emerged involving AZ Alkmaar's Smit, 20.
According to journalist Mario Cortegana, Real Madrid are keeping a close eye on the midfielder's progress. Smit is under contract with AZ until June 2028, and his breakout form has been considered outstanding, with expectations growing that he will eventually make the move to one of Europe's leading clubs.
Smit is not currently a priority for Real Madrid, principally because AZ have made clear they will not part with the young talent at just any price. Reports suggest a valuation as high as €60m would be required to complete a transfer.
It remains to be seen what Real Madrid's true intentions are regarding the midfielder, with the club's attention firmly fixed on completing a deal for Fernandez in the more immediate term.
Smit's rise at AZ has drawn comparisons to several of the Eredivisie's recent breakout midfielders who have gone on to secure moves to bigger leagues, with his ability to dictate tempo and progress play through the centre of the pitch fitting the profile Real Madrid have traditionally sought for that role. The club's scouting network has reportedly tracked his development closely over the past year, even without any concrete approach yet being made.
AZ's reluctance to entertain a sale below their valuation reflects the club's broader strategy of holding firm on prized young talent until a buyer is willing to meet their terms in full, a stance that has previously yielded substantial transfer fees for similarly promising graduates of the Dutch club's youth system.