KEY POINTS:
Transfer activity may have cooled in comparison with this time last year but European clubs are still hunting New Zealand players and Isa Nacewa is at the top of many lists.
February and March are historically the months in which the Northern Hemisphere begins headhunting for the coming season.
In 2007, there was frenetic activity as the major clubs scrambled to snare test players who were coming off contract after the World Cup.
That increased transfer activity and desperation to strike while the opportunity existed led to a marked increase in the value of contracts and number of New Zealand players who headed overseas. Early indications are that 2008 will see the player drain continue, but not at the same pace as last year.
David Jones, who represents a number of players, said: "There is still activity in the market. Clubs are still looking for players and are making inquiries all the time. But the level of activity has returned to what I would say are more normal levels."
One man attracting much interest is Nacewa, the Blues back who comes off contract at the end of this year. Toulon, the ambitious French club coached by Tana Umaga, are understood to be the latest to inquire about the 25-year-old.
While it is early days, there is a strong chance Nacewa, who was on the shortlist for New Zealand's player of the year in 2007, will be tempted by a move overseas.
Although Auckland born and bred, Nacewa played for Fiji in the 2003 World Cup, making it on to the field for barely one minute against Scotland. He tried to legally nullify his Fijian appearance and have his New Zealand eligibility restored but the IRB is notoriously difficult to budge.
As a consequence of not being eligible for the All Blacks, he is paid considerably less than many team-mates with less experience and ability. The New Zealand Rugby Union is resolute, though, that it will not pour big sums of cash into the pockets of players who are not able to represent the national team.
The same policy led to another Fijian superstar, Rupeni Caucaunibuca, taking a contract in France in 2004.
Despite being a vital player for the Blues when they won the title in 2003, Caucaunibuca was paid only $75,000 - just $10,000 more than the Super rugby minimum.
It is believed Nacewa is on a slightly better deal than Caucaunibuca but is still paid well below his market value and nowhere near the average Super 14 salary of $200,000.
Toulon have already just about secured promotion to the French first division and have an enormous budget.
