Terry Pluto of the Plain Dealer noted Saturday the Cavs offered Smith to "various" front offices. It's unclear whether those proposals have led to more substantive talks, though.
The 32-year-old New Jersey native is enduring one of the worst statistical seasons of his career.
He's averaged 7.8 points, 2.9 rebounds and 2.0 assists while shooting 37.7 percent from the field across 49 appearances during his third full season in Cleveland. His player efficiency rating (7.62) ranks 77th out of 82 qualified shooting guards, per ESPN.com.
In addition, he's under contract for next season with a $14.7 million cap hit followed by a team option for 2019-20 at $15.7 million, according to Spotrac.
Smith said in November his postgame approach was contributing to his poor performance, per Maria Ridenour of the Akron Beacon Journal.
"Me as a person goes hand in hand with me being a professional," he said. "Eating habits, sleeping habits, I can't take the court home with me. I can't just stay up all night thinking about the game, watching the game, watching highlights, listening to what people say, things like that."
All told, it's hard to imagine the Cavaliers finding much interest in a veteran with declining numbers and a costly cap number for at least one more year. They will likely need to use other assets, such as their pair of first-round picks in the 2018 draft, in order to upgrade their roster.