WWE severs ties with Hulk Hogan after racist rant emerges

World Wrestling Entertainment Inc. has severed ties with Hulk Hogan after a video recording of the wrestler going on a racist tirade was brought to light by Dylan Howard and Lachlan Cartwright of The National Enquirer and Radar Online.

The wrestling company has scrubbed all reference to Hogan from its website and terminated his contract.

WWE did not go into specifics regarding the split from Hogan, whose real name is Terry Bollea, but said in a statement that the company is "committed to embracing and celebrating individuals from all backgrounds as demonstrated by the diversity of our employees, performers and fans worldwide."

The Hulkster released a statement of his own to People Magazine, taking responsibility for his actions.

Eight years ago I used offensive language during a conversation, it was unacceptable for me to have used that offensive language; there is no excuse for it; and I apologize for having done it. This is not who I am. I believe very strongly that every person in the world is important and should not be treated differently based on race, gender, orientation, religious beliefs or otherwise. I am disappointed with myself that I used language that is offensive and inconsistent with my own beliefs.