Former Wallabies coach Alan Jones has hit out at Rugby Australia powerbrokers over their handling of Israel Folau’s social media controversy.

The radio host argued that powerbrokers were worried about losing sponsorship money, particularly from their major sponsor Qantas, and thus were intent on sacking the superstar fullback.

"Rugby have brought a battle here with the minds of rugby followers which they can't win," Jones said.

Jones also claimed Rugby Australia were in fact in breach of their own code of conduct in the way they immediately declared Folau guilty, without issuing a breach notice.

Israel Folau has copped a breach notice from Rugby Australia over his social media posts last week. Credit: AAP

Wallabies star Israel Folau may have to wait a while for a code of conduct hearing, if he decides on that option on Wednesday, rather than accept the termination of his contract.

Rugby Australia on Monday served the Test and NSW Waratahs back with a breach notice over his posts on social media platforms last week.

The RA Integrity Unit deemed that Folau had committed a high-level breach of the Professional Players' Code of Conduct warranting termination of his employment contract.

Folau, who signed a new four-year contract back in February, was given 48 hours to accept the sanction or have the matter referred to to a Code of Conduct hearing,.

Israel Folau may have to wait until next week for his hearing with Rugby Australia. Credit: EPA

If Folau accepts the sanction by the deadline of Wednesday 2pm (AEST) he would leave without getting a payout.

It's considered more likely he will choose the other option, though he has stated he is prepared to walk away from the game for the sake of his faith

Given there are Easter public holidays on Friday and next Monday and Anzac Day next Thursday, it's highly unlikely any hearing would be conducted until the following week.

The hearing process would involve a panel of three, a representative of RA, a representative of the players' union RUPA and an independent person approved by both organisations, who would be the chair.

The religiously-motivated Folau posted: "Warning. Drunks, homosexuals, adulterers, liars, fornicators, thieves, atheists, idolators. Hell awaits you. Repent! Only Jesus saves."

Billy Vunipola liked a social media post by Israel Folau stating "hell awaits" for "homosexuals". Credit: AAP

RA chief executive officer Raelene Castle has stressed the action taken against Folau is about the issue of the responsibilities an employee owes to their employer rather than punishment for his religious beliefs.

Castle said Folau was warned formally and repeatedly last year about the expectation of him as a Wallabies and Waratahs player in regards to his social media use, following some previous controversial posts, and asserts the gifted back has failed to meet those obligations.

With AAP

Watch Alan Jones in the clip above.