VIDEO : WWE Drops Hulk Hogan

In a statement released Friday, World Wrestling Entertainment announced they have terminated the contract of Terry Bollea.
Bollea debuted with the organization in the 1980s as Hulk Hogan.
Since his debuted with the WWF, now known as the WWE, Hogan has become one of the most celebrated and well known professional wrestlers.
The decision comes after a controversial taping of the wrestler surfaced.
In the recording, Bollea is repeatedly heard making racist remarks.
According to Bollea's lawyer, he decided to resign from the WWE in light of the tape.
Bollea issued a length apology Friday morning clarifying that eight years ago he made remarks that are not consistent with his beliefs.