The 18-year-old has spent more than four months in hospital undergoing treatment, including a bone marrow transplant, after being diagnosed in June.

In an effort to help support the Moloney family, Edward's MCUE football club teammates hosted an event with raffles, silent auctions and head shaves in the hopes of raising about $20,000.

But the final figure raised at Saturday's event dwarfed their goal, reaching a total of $60,000.

Event organiser and friend of Edward's, Sara Langfield, said the turnout exceeded their expectations.

"It was amazing, it went really well," she said.

"It was pretty overwhelming to see how much support there was."

With some obvious big-ticket items, Miss Langfield said some of the more novelty aspects still saw the fundraising tally jump.

"The auction ended up being pretty major which was fantastic, but then even the head shaves went well, one group went for over $3000," she said.

Edward wasn't left out of the day's excitement either, according to Miss Langfield.

"The boys were videoing him with the head shaves, so he got to watch it all over FaceTime, and he was very overwhelmed with it all," she said.

"His parents were so proud too, they were extremely grateful."

Miss Langfield expressed her thanks to everyone involved from the donations to volunteers and those who shaved their heads.