WrestlingNewsSource.com has learned that wrestling legend Verne Gagne, one of professional wrestling's most celebrated and honored personalities, has died at the age of 89.

Gagne is perhaps best known for his stint as not only the owner of the American Wrestling Association, but also as a ten-time AWA World Heavyweight Champion. Gagne was also inducted into the short-lived WCW Hall of Fame in 1993, as well as the WWE Hall of Fame in 2005.

PWInsider.com reports that Gagne died early in the day on Monday; however, the news was broken by fellow WWE Hall of Famer Gene Okerlund Monday evening on his official Twitter page. WWE.com later confirmed the news of Gagne's death.

As of this writing, there is no word on the official cause of Gagne's death.

On behalf of everyone here at WrestlingNewsSource.com, we would like to offer our sincerest condolences to the family and friends of Verne Gagne.