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The Hulkster is already in apology mode as he should be as this story is only beginning to unravel for him. Earlier we reported the WWE has cut all ties with him, including his section on their half of fame website. We knew it had something to do with racist comments but now we know exactly what it was.

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Hulk Hogan’s sex tape that leaked in 2012 is pretty much the cause of all this. The tape itself was made more than 8 years ago and Hogan is currently involved in a $100 million dollar lawsuit with Gawker for releasing the video.

The remarks he made are expected to come out in court sometime later this year and the WWE wasn’t waiting around to see what happens.

The audio and transcript of the rant reportedly surfaced during Hogan’s ongoing lawsuit against Gawker Media over the release of a video of Hulk allegedly having sex with former friend Bubba the Love Sponge Clem’s wife. National Enquirer has the details, which indicate that Hogan was angry over his daughter Brooke possibly being involved with a black man.

“I guess we’re all a little racist,” he crowed on the tape, multiple sources have confirmed exclusively to The ENQUIRER.

Despite his TV image as a born-again Christian, the tapes prove that Hulk is a very different man off camera!

In a startling exchange, the 61-year-old told Clem – who he sued for invasion of privacy after their XXX tape was leaked to a website – about his frustrations with blonde bombshell Brooke, 27.

“She is making some real bad decisions now,” Hulk said, sources tell us. “My daughter Brooke jumped sides on me. I spent $2-3 million on her music career, I’ve done everything like a jackass for her.”

The bitter bodybuilder continued, “The one option Brooke had, Brooke’s career besides me, is [to] sell beach records.”

At that point on the tape, the former “Hogan Knows Best” star bemoaned how a “black billionaire guy” had offered to fund her music career.

He also attempts to use bizarre, twisted logic in an attempt to justify his bigotry at the man.

“I don’t know if Brooke was f—ing 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—ing n–ers. But then when it comes to nice people and s–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— some n—er, I’d rather have her marry an 8-foot-tall n—er worth a hundred million dollars! Like a basketball player!

“I guess we’re all a little racist. F—ing n—er.”

As you might expect, Hulk was quick with the apology after that transcript was made public.

“Eight years ago I used offensive language during a conversation. It was unacceptable for me to have used that offensive language; there is no excuse for it; and I apologize for having done it.”

“I am disappointed with myself that I used language that is offensive and inconsistent with my own beliefs. It is not who I am. I continue to work every day to improve as a person, and this matter is an important learning experience for me in that regard.”

He adds that language “is inconsistent with my own beliefs.”

The problem for Hogan is this is far from the first time he has been accused of using such language and being racist in general. Not sure how far his apology will go at this point.

Hogan’s lawyer David Houston told People that the famous wrestler wasn’t fired, but resigned. “He decided to resign from WWE because he didn’t want to put them or his family through this,” Houston said.

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