Hulk Hogan Dropped By WWE Over Racist Rant: 'I Am Disappointed In Myself'

A stunning shakeup for wrestling icon Hulk Hogan -- the WWE superstar was fired after a leaked transcript of a sex tape in which Hogan uses the “N” word because his daughter, Brooke, was supposedly dating a black man.

Read: Jon Stewart Crashes WWE and Kicks Seth Rollins Where it Counts

The wrestler, beloved by famous fans like Arnold Schwarzenegger, is now speaking out about his fall from grace, saying: "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."

He goes on to apologize: “I am disappointed with myself that I used language that is offensive and inconsistent with my own beliefs.”

WWE told INSIDE EDITION: "WWE terminated its contract with Terry Bollea (aka Hulk Hogan). WWE is committed to embracing and celebrating individuals from all backgrounds..."

Read: Linda Hogan's Tell-All Book About Her Marriage to Hulk Hogan

His image has been scrubbed from the WWE’s website. He was also removed from the online Hall of Fame.

INSIDE EDITION spoke to his lawyer, David Houston. He said: "He is the first one to admit there are consequences for utilization of toxic speech. It is not who he is."

Hulk also tweeted:

Watch Below: Mom Caught Brawling at Texas Pool Party: 'I Am Not a Racist!'