Israel Folau has contract terminated following Code of Conduct hearing

Israel Folau is "exploring his options" after his multi-million dollar contract was terminated by Rugby Australia [RA] on Friday afternoon.

Folau released a statement in response to his sacking roughly two hours after RA boss Raelene Castle fronted a packed media conference in Sydney to confirm the end of his six-year stint in Australian rugby.

The Wallabies star had last week been found guilty of committing a high-level breach of RA's Code of Conduct, which is clearly outlined in each player contract the governing body registers, for his controversial social media posts that declared homosexuals, along with drunks, fornicators and adulterers, among others, would go to hell unless they repented.

"Israel Folau has been issued a sanction for a high level breach of the players' Code of Conduct," she said.

"When players sign a contract with the Wallabies they sign up to the team and the sport. Israel is a great rugby player and we are disappointed and saddened he won't see out his four-year contract commitment to the Wallabies and Waratahs.

"But our position remains that we have no choice but to pursue the action that has resulted in today's outcome.

"This is a decision that will change the landscape of sport across Australia and perhaps internationally."

Folau's Code of Conduct hearing ran over three days and lasted more than 22 hours while the panel then took 10 days before handing down its sanction on Friday. Folau has 72 hours to appeal his contract termination, but has already taken to Twitter to suggest the fight may be far from over.

"It has been a privilege and an honour to represent Australia and my home state of New South Wales, playing the game I love," Folau said.

"I am deeply saddened by today's decision to terminate my employment and am considering my options.

"As Australians, we are born with certain rights, including the right to freedom of expression. The Christian faith has always been a part of my life and I believe it is my duty as a Christian to share God's word. Upholding my religious beliefs should not prevent my ability to work or play for my club and country."

Folau also paid tribute to wife, Maria, and those who "have spoken out in my defence, some of whom do not share my beliefs but have defended my right to express them."

The panel deliberated for 10 days after first finding Folau guilty of the breach late on May 7th, meaning that by the time the sanction was finally revealed on Friday the entire saga had been running for over six weeks.

But Castle defended the length of time the panel had taken to come to a decision, again reinforcing its magnitude for the entire Australian sporting landscape.

"It's certainly not ideal, but Mr Folau knew that when he pressed that button, that that was the implications that post was going to have," she said.

"What I can say about the process is that we did have Easter and ANZAC Day which was less than ideal. But this was a decision that will change the landscape for sport across Australia and perhaps internationally; the tribunal were the best possible experts in this field that we could bring together, to put together, and they have spent a lot of time to ensure that they got this right because it will be landmark and it was important.