Israel Folau poised to lose out on around $3 million

Catalans Dragons player Israel Folau could lose his settlement payout from Rugby Australia with the game’s governing body down under facing financial ruin.

Folau was sacked in May 2019 for homophobic social media comments and after suing RA for religious discrimination, he is believed to have received an out-of-court figure in the region of $3 million.

The Australian Associated Press report that the money, which covers the remainder of his four-year contract in the 15-man code, is being paid in instalments.

However those payments could soon stop with Rugby Australia hit hard by the economic fallout of Covid-19 and now on the verge of declaring itself insolvent.

Should that happens, Folau would likely lose out on millions and be paid out only a few cents in the dollar as an unsecured creditor, depending on assets.

Having made 62 appearances over seven years for the Wallabies, Folau was rated as one of the top players in the 15-a-side game before he was axed for his online remarks.

Folau has impressed on the pitch since signing for Catalans. Credit: News Images

After receiving much scrutiny and spending months in limbo, he returned to professional sport when he signed for Super League side Catalans in January.

Folau has impressed on his rugby league return and helped the Dragons win three consecutive games prior to the season suspension.

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