The British Telegraph is reporting that Piutau has signed a deal with Championship side Bristol worth nearly $2 million.
The newspaper says Piutau’s contract is worth $1.8 million year.
The 16-test All Black will join the English club at the 2018/19 season after signed a two-year deal.
He currently has one year left on his deal with Irish province Ulster.
It puts Piutau in the league of former All Black Dan Carter.
Carter’s current deal with French Top 14 club Racing 92, is believed to be around $1.9 milion a season but is due to expire next year.
The Telegpaph quoted Pat Lam, Bristol’s new director of rugby, as saying it was “one of the biggest coups in the club’s history.”
According to the Telegraph, Bristol saw off strong competition from leading clubs in France to secure the deal.
Bristol, who were relegated from the Premiership last season, had already set a new Premiership record by signing Piutau’s former Auckland Blues and All Blacks team-mate Steven Lautau this season on a deal understood to be worth $1.1 million a season.