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Hulk Hogan fires up the crowd between matches during WrestleMania 21CHRIS CARLSON/The Associated Press

Wrestling star Hulk Hogan has apologized for offensive comments he made which surfaced as a result of a video tape he is trying to keep private.

"Eight years ago I used offensive language during a conversation," he was quoted as saying in a statement to People Magazine's website. "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."

The apology comes on the heels of World Wrestling Entertainment Inc. severing its ties with him Friday morning.

The company deleted most references to Hogan on its website and issued a statement Friday saying it had terminated its contract with the wrestler.

The company did not give a reason, but issued a statement saying it is "committed to embracing and celebrating individuals from all backgrounds as demonstrated by the diversity of our employees, performers and fans worldwide."

A joint report from RadarOnline.com and The National Enquirer claims Hogan used racial slurs in a conversation caught on a sex tape he is fighting in court to keep private.

In 2012, Hogan filed a $100-million lawsuit against Gawker Media, claiming his privacy had been invaded.

Prior to his statement to People Magazine,  Hogan tweeted the following early Friday morning, "In the storm I release control, God and his Universe will sail me where he wants me to be, one love. HH".

Hogan, whose real name is Terry Bollea, was the main draw for the first WrestleMania in 1985 and was inducted into the WWE Hall of Fame in 2005.

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