Meltzer had this to say regarding it
By Dave Meltzer, WrestlingObserver.com w/additional info from Josh Nason
On Friday morning, WWE announced they have terminated the contract of Terry "Hulk Hogan" Bollea. Their brief statement:
"WWE terminated its contract with Terry Bollea (aka 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 few minutes afterward, the National Enquirer and Radar Online released a story that claims Hogan made racist comments on a sex tape, using the N-word several times in a dialogue about someone that was was offering to fund daughter Brooke's music career. Here's an excerpt from their story:
"I don’t know if Brooke was f*cking the black guy’s son," Hulk raved, the sources add.
"I mean, I don’t have double standards. I mean, I am a racist, to a point, f*cking n*ggers. But then when it comes to nice people and sh*t, and whatever."
Then, in a tirade to rival the racism embarrassments suffered by Mel Gibson and "Dog The Bounty Hunter," Hulk unloaded even more hatred!
According to sources, he said: "I mean, I’d rather if she was going to f*ck some n*gger, I’d rather have her marry an 8-foot-tall n*gger worth a hundred million dollars! Like a basketball player!
"I guess we’re all a little racist. Fucking n*gger."
The dropping of Hogan was entirely due to the content on the sex tape with Heather Clem, believed to be from 2006, who at the time was the wife of Bubba the Love Sponge.
Although only one sex tape had surfaced, in 2012, which led to Hogan's $100 million lawsuit against Gawker Media, which showed excerpts from the tape, an FBI investigation showed three additional DVDs of Hogan and Clem.
Those close to the situation indicated that other speculated reasons over the last day had nothing to do with the decision, including a 2012 radio interview that had been talked about in many circles as the possible reason.
At this point Hogan has not been removed from historical content on the WWE Network. But he won't be involved in anything current or going forward.
After learning of the content that was going to be released, on Thursday night, the WWE ordered its web site to eliminate all mentions of Hogan, including as an Alumni or as a Hall of Famer, in addition to his merchandise. He was also removed as a judge for Tough Enough and at this point a replacement has not been named. Curtis Axel will be dropping his Axel Mania gimmick immediately.
