Folau on Tuesday described speculation he could join the Queensland Reds next year as rumours and white noise, but said he had many options.

New Zealander Hore, who was appointed Waratahs boss in 2016, believes European clubs would be in the market for Folau, who is coming toward the end of his sixth Super Rugby campaign with the Tahs.

"We have no doubt that he's got many options in front of him," Hore told AAP.

"Being in the contract world in the northern hemisphere, trying to get a player the year before a World Cup is often a bigger prize than getting him the year after, because there's so much on the market.

"We can only put our best foot forward with regard to looking to support his rugby ambitions and create an environment that he wants to be a part of.

"Ultimately he'll have to make that choice and we would hope that he would decide to stay."

Rugby Australia are talking with Folau's management, with Hore emphasising NSW had not set any deadline for the decorated back to re-sign with the Tahs.

"Ultimately it's always nice to get your squad bedded down nice and early, particularly with the personnel you're going to probably utilise more of your financial resources (on)," Hore said.

"But you've also got to appreciate any negotiation, they all take time and you've just got to be patient with that."

Hore was optimistic two of the Waratahs other Wallabies - captain and flanker Michael Hooper and five-eighth Bernard Foley - would sign new deals.

"Conversations are going well with those boys and we're pretty hopeful that they will remain as well, we feel comfortable with where things are at," Hore said.

He also confirmed discussions to retain coach Daryl Gibson were well advanced.

"We've had some good discussions in and around his future and what he wants to do and we're hopeful we'll have some news on that soon," Hore said.

Australian Associated Press