Forsyth Barr has tabled a new offer at the request of the NZRPA, that would see NZR sell a five per cent stake in future commercial revenue through an NZX listing.
NZR CEO Mark Robinson described the new offer as shocking and disappointing, believing the relationship with the NZRPA is at a new low.
Smith told Elliott Smith he has a lot of respect for both parties.
"When you have a big issue like this that is concerning New Zealand Rugby, the direction we're heading, the potential of 12.5 percent of our national game, then people get very emotional, and that's all we're seeing."
Smith wants to see the Silver Lake and Forsyth Barr offers, as well as any other presented, to be discussed fairly.
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