A counter GoFundMe campaign has been launched against Israel Folau by a disgruntled rugby fan in an attempt to show the former rugby player that "intolerance will not be tolerated" in the sport.

The fundraiser was created by Robbie Owen from East Midlands, in the United Kingdom, days after Folau established his own GoFundMe page to raise funds to cover the legal costs in a bid to show the sacked rugby star that rugby is an inclusive sport, reports news.com.au.

The funds raised by the latest campaign will be donated to Stonewall, the UK based organisation responsible for the 'Rainbow Laces' initiative encouraging tolerance and inclusivity across all sports.

Mr Owen, wants to make it clear that Folau's homophobic commentary isn't supported by rugby fans.

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"Rugby regularly labels itself as an inclusive sport, one that supports people from all walks of life," Owen states in the fundraiser's description.

"That is why I believe it is important that we, as fans, make the message clear. Intolerance such as Folau's is not welcome in rugby."

The campaign has raised over $7000 in just two days with more than 250 donations.

A disgruntled rugby fan has launched a counter GoFundMe campaign against Israel Folau. Photo / Supplied
A disgruntled rugby fan has launched a counter GoFundMe campaign against Israel Folau. Photo / Supplied

"I have set the goal to $3 million AUD just to match Folau's overambitious aims. I don't expect for a moment that we'll reach this 'target', but the real aim is just to raise more funds than Folau," Owen says on the campaign's page.

"The money will be going to a good cause, and it'll send the message once and for all: If he wants to continue to use his profile and platform to preach hate, Israel Folau picked the wrong sport, because intolerance such as his will never be tolerated in rugby."

Folau had his $4 million RA contract was terminated in May and over half-a-million dollars has since been raised to help the former player with his legal fight against Rugby Australia.

"Folau has not let up or slowed down since he lost his contract," Owen says.

"To me, personally, Rugby Australia's [decision] felt like a landmark moment. One of the sport's governing bodies taking a stand, and showing that even arguably their nation's highest-profile player is not above consequences for betraying the core inclusive values of the game."

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The ex-Wallaby's attempt to raise funds in his bid for reinstatement had passed $560,000 by 6pm on Saturday. About 7300 people have donated.

The spike in donations came despite reports Folau has a property portfolio worth close to $7 million across NSW and Queensland.

Folau's decision to take his fight to Go Fund Me has prompted a sharp backlash.

"From our perspective (Go Fund Me) is a place where sick children get support, so it's certainly not a strategy we think is appropriate," Rugby Australia chief executive Raelene Castle told Nine News.

Former Wallabies teammate Drew Mitchell also slammed Folau's decision, saying there were others more deserving of donations.

"YOU are in a fight that YOU chose to be in after YOU broke the terms of YOUR contract, the kids below are in a fight they NEVER wanted to be in & yet YOU think YOU deserve donations more than they do??!!," he posted on Twitter.

Folau also claimed that he has received "thousands" of messages of support and promised to "stand strong" in his fight.

Several people supported Folau, with some calling him a "real life superhero" however he also came in for some scathing criticism with one commenter calling him "the epitome of greed and pride."