The English Premier League has pledged 1 million pounds ($1.92 million) with the top 20 clubs, including Manchester United, Arsenal and Chelsea, all contributing at least 50,000 pounds each.
Everton, which has close links with Thailand, and other clubs have started their own funds, while the league announced that a minute's silence would be observed at this weekend's fixtures.
"The Premier League and our clubs have strong connections throughout the region and there was a real feeling amongst the clubs that we should do something as a collective to try and alleviate some of the pain and suffering," Premier League chief executive Richard Scudamore said in a statement on the league's website.
The cricketing world has also joined forces to raise funds after India and Sri Lanka, two of the sport's major playing nations, were devastated by the tsunami that followed a 9.0 magnitude earthquake in the Indian Ocean that has killed 125,000 and left millions homeless.
Sri Lanka's tour of New Zealand was postponed this week so the players could return home and the International Cricket Council (ICC) is planning a relief match between an Asian eleven and the rest of the world to raise funds.
"Although the logistics behind this effort are complicated, the ICC is trying to get the cricket nations to rally and raise funds for a major humanitarian cause," Pakistan Cricket Board chairman Shaharyar Khan told Reuters.
The Australian team donated the prize money from their second test win over Pakistan this week.
The England and South African cricket teams held an impromptu fund-raising party on Thursday
Russia's Wimbledon tennis champion Maria Sharapova gave $10,000 to Thailand's Prime Minister Thaksin Shinawatra on Thursday while she was in Bangkok for an exhibition match.
The ATP, the governing body of the men's professional tennis, also announced it was joining the relief effort with a series of fund-raising activities during next week's Chennai Open.
The ATP said it would donate its $25,000 fee for the tournament to UNICEF and would hold a fund-raising auction, offering autographed items including a shirt owned by defending champion and former world number one Carlos Moya.
Jonas Bjorkman and Mahesh Bhupathi, who are the top-seeded doubles team at the Chennai Open, said they would donate their prize money and urged other players to join them.
"Through our tournaments and players, we have a deep connection with Asia," ATP chief executive Mark Miles said in a statement. "The timing of the tournament is an opportunity for the tennis community to directly support the relief effort."
The International Rugby Board (IRB) announced it would make a donation to U.N. World Food Programme and urged the rugby community around the world to support its work."
"Our hearts go out to the families of those who have died and who have family members still missing, and to those whose lives and livelihoods have been shattered by this terrible tragedy," IRB Chairman Syd Millar said.
The Hong Kong Jockey Club donated $250,000 to the relief effort while the International Olympic Committee (IOC) expressed their condolences.
"The whole Olympic movement stands silent before and shares in this immense bereavement," IOC President Jacques Rogge wrote on the committee's website.
