Hulk Hogan's attorney has today hit back at reports that WWE "fired" Hogan after it emerged he had used racial slurs in an audio which is about to be leaked online. Subsequent audio interviews in which Hogan has used the "n-word" have also resurfaced online.

Hogan is reported to have resigned from the WWE late Thursday evening. 

The audio tape which is about to leak is of Hogan discussing his daughter Brooke's music career. He repeatedly used the n-word while talking about a black guy she was dating at the time.

The transcript of comments made are expected to come out later this year in relation to his sex tape trial against Gawker Media over the publishing of the celebrity's sex tape.

It would seem Hogan knew it would cause a stir and did the right thing by walking away from WWE to protect their image.

WWE issued the following statement regarding the termination of Hulk Hogan's contract:

"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."

UPDATED: The Enquirer and Radar have published excerpts of transcripts submitted to a Florida court overseeing Hulk Hogan’s $100 million lawsuit against Gawker Media. Hogan makes reference to a “black billionaire,” who apparently offered to fund his daughter’s burgeoning music career, and the billionaire’s son. 

“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.” ...

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.”