Hulk Hogan's contract with the World Wrestling Entertainment (WWE) has been terminated following the release of a tape recorded years ago where he was heard uttering racist comments.

The professional wrestler was removed from the WWE website on Friday and was also taken off from the online Hall of Fame, noted People.

According to Hogan's lawyer, David Houston, the wrestler "officially resigned" from the WWE.

"He decided to resign from WWE because he didn't want to put them or his family through this," Houston.

WWE, however, maintained that they fired Hogan and that he did not resign. "WWE terminated its contract with Terry Bollea (a.k.a. Hulk Hogan). WWE is committed to embracing and celebrating individuals from all backgrounds as demonstrated by the diversity of our employees, performers and fans worldwide," a statement from the company read.

In an exclusive report, Radar Online together with the National Enquirer revealed that the wrestling icon made "a filthy bigoted attack, littered with the N-word and other disgusting racial insults."

He reportedly directed all these demeaning words at his daughter Brooke Ellen Bollea, whom he claimed was sleeping with a black man.

"I guess we're all a little racist," Hogan reportedly said in the recording.

Sources of Radar Online said that the wrestler was really disappointed with his daughter. "She is making some real bad decisions now. My daughter Brooke jumped sides on me. I spent $2-3 million on her music career, I've done everything like a jackass for her," Hogan was quoted as saying.

He also mentioned that a "black billionaire" allegedly offered to fund Brooke's career.

To air his side on this issue, Hogan has released a statement to People magazine, which read: "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."

On his Twitter account, Hogan also expressed hope saying "In the storm I release control,God and his Universe will sail me where he wants me to be,one love. HH"

Obviously, the wrestler is trying to remain positive despite the recent issue that came up.