'Vindicated' Israel Folau releases statement after Rugby Australia settlement

Israel Folau has released his own statement following the confidential settlement reached with Rugby Australia today.

The settlement follows Monday's mediation talks held at the Federal Court in Melbourne between Folau and Rugby Australia.

Folau declared he's "vindicated" after admitting he came out of the mediation feeling pleased with the settlement reached in a video posted to YouTube.

"We are extremely pleased with the settlement reached today."

"With today's acknowledgement and apology by Rugby Australia, we have been vindicated and can now move on with our lives to focus on our faith and family.

"Maria and I would like to thank God for his guidance and strength.

"Thank you to our supporters for their thoughts and prayers, in particular our families, our congregation as well as Martyn Iles and the Australian Christian lobby.

"We started this journey on behalf of all people of faith, to protect their rights of freedom of speech and religion.

"We now look forward to the federal government enacting the legislation necessary to further protect and strengthen these rights for all Australians."

The pair then both say "thank you" as the video ends.

A statement today released by Rugby Australia confirmed the two parties had reached an agreement following claims from Folau that he was unlawfully sacked earlier in the year.

Folau's contract with Rugby Australia was terminated after he sparked outrage with an Instagram post that claimed "hell awaits" drunks, homosexuals, adulterers, liars, fornicators, thieves, atheists and idolaters, should the "sinners" fail to "repent".

In the statement from Rugby Australia, it states that "Mr Folau did not intend to harm or offend any person when he uploaded the social media post".

"Mr Folau wants all Australians to know that he does not condone discrimination of any kind against any person on the grounds of their sexuality and that he shares Rugby Australia's commitment to inclusiveness and diversity," the statement continued.

Today's settlement avoids what would have been a lengthy court battle between Rugby Australia and Folau with the former Wallaby originally seeking $14 million in damages.

The agreed settlement is not known.