WWE has just released the following statement with regard to the developing controversy surrounding Hall of Famer Hulk Hogan.

“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.”

This all but confirms the now widespread rumors that Hogan was involved in some sort of racial incident in an audio interview online; a rumor that has been making its rounds since late Thursday night when the story first broke. Wrestlezone is working to confirm these rumors, and will provide updates as they become available.

For prior context to this developing story, in the links below you can check out everything we’ve reported in the past 24 hours:

-The National Enquirer Releases Racist Comments Allegedly Made by Hulk Hogan

-Details on When WWE Might Have Found Out About Hogan Situation

-Hulk Hogan Releases Official Statement Apologizing For Racist Rant

-Booker T ‘Shocked’ by Hogan Controversy

-Daniel Bryan, MVP, Matt Hardy and More React to Hogan Comments

-Mark Henry Issues Lengthy Statement on Hogan Situation

-Brooke Hogan Reacts to Her Father’s Situation

-WWE Officially Addresses Tough Enough Judge Situation Following Hogan’s Termination

-Hulk Hogan Speaks Out on Twitter, Says He Is Not a Racist, More

-Hulk Hogan Officially Removed From WWE 2k16

-The Very Latest on Hogan’s WWE Hall of Fame Status

-TNA Begins Scrubbing Hogan, TMZ Says It Has Seen Hogan Footage

-More Backstage News on Hogan’s Tough Enough Replacement

-Roddy Piper Offers Bizarre Reaction to Hogan Situation

-Hogan’s Lawyer Suspects Gawker, Threatens Legal Action

-Jim Ross Posts Blog Reacting to Hogan Situation

-George Foreman Defends Hogan