WWE Hall of Famer Hulk Hogan has finally settled the lawsuit he filed against former friend Bubba the Love Sponge over a sex tape scandal — but that the WWE legend said he is still going to pursue legal action against Bubba’s ex-wife and Gawker Media.

According to reports, Bubba the Love Sponge apologized in a statement released early Monday, as the camp of Hulk Hogan announced the legal settlement. Financial terms of the settlement were not released.

“After further investigation, I am now convinced that Hulk Hogan was unaware of the presence of the recording device in my bedroom. I am convinced he had no knowledge that he was being taped. Additionally, I am certain that he had no role in the release of the video,” states Bubba’s apology letter, which he also read on his syndicated radio show.

“It is my belief that (he) is not involved, and has not ever been involved, in trying to release the video, or exploit it, or otherwise gain from the video’s release in any way,” Bubba added.

“Regrettably, when Hulk filed the lawsuit against me, I instinctively went on the offensive. The things that I said about him and his children were not true. I was wrong and I am deeply sorry for my reaction, and for the additional pain that it caused Hulk and his children on top of the pain that they already were feeling,” the radio jock said.

Bubba the Love Sponge closed his apology letter by saying he is “committed to helping Hulk and his attorneys find whoever is responsible for the release of the tape.”

In a lawsuit filed October 15, Hulk Hogan said he had consensual sex with Bubba’s wife, Heather Clem, six years ago in the Clems’ home.

The WWE star said Bubba, his best friend at the time, suggested the kinky action and gave his blessing. The then-married Hogan said he was having some issues with his wife, Linda.

Hulk Hogan claimed he had no idea there was a recording device in the room and considered the filming and eventual leak of the sex tape to Gawker.com an invasion of privacy.

At the time, Bubba the Love Sponge quickly ripped Hogan and labeled him as a “hypocritical fraud.”

“There were three people in that home. All three knew what time it was,” Bubba said on his show, a day after Hulk Hogan named Bubba and Heather as lead defendants.

Bubba added Hulk Hogan lived in his house for several months prior to the taping and knew there were security cameras everywhere.

“You know I have surveillance. You knew of everything going on,” Bubba said, addressing Hogan directly. “But now that your feelings are hurt … you’re trying to cover your (rear) with your wife and your jobs and your social standing.”

Hulk Hogan, whose real name is Terry Bollea, is still pursuing his $100 million lawsuit against website Gawker in federal court, and a case against Heather Clem is also pending, Hogan’s lawyer said.

“Mr. Bollea is pleased that Mr. Clem finally stated the truth and apologized for his false statements,” lawyer David Houston said Monday.

WWE professional wrestler Hulk Hogan has been offered big money by a porn company that wants to put his leaked sex tape on their site, giving him an option for an “open checkbook.”

According to reports, media outlet TMZ has obtained an offer letter from Sex.com to Hulk Hogan, and the porn company is looking to lock up the rights to his sex tape, which made the rounds in various websites this week without the wrestling legend’s permission.

The letter states from Sex.com states, “As we have all read and seen a sex tape was recorded and posted online without your permission. While this may be an embarrassing ordeal for you to go through right now, it doesn’t need to be. We are truly serious about working with you, this isn’t some shameless press opportunity, you are ‘bigger’ than Andre the Giant where it matters.”

The site says they have an “open checkbook” if Hulk Hogan is interested in signing a deal.

Meanwhile, Hulk Hogan — whose real name is Terry Bollea — moved to halt the publication of his sex tape, and instructed his lawyers to draft a cease and desist letter demanding honchos of the website Gawker.com — which posted a 90-minute preview clip of the footage — to remove the footage.

Hogan’s attorney David R. Houston said in a statement, “This tape was made secretly without Hulk’s knowledge or permission. We are going to do everything in our power to figure out who did it.

“Anyone displaying the tape will be held accountable to the fullest extent of the law.”

The former wife of Hulk Hogan  has also spoken out about the sex tape, telling RadarOnline: “I wasn’t really shocked about it.”

She added that the footage — thought to be of Heather Clem, the ex-wife of the wrestler’s best friend and radio DJ Bubba the Love Sponge — is “a little twisted.”

Meanwhile, the woman suspected to be in the sex tape with Hulk Hogan is embarrassed about sleeping with the wrestling legend.

Friends of Clem claim she is distraught their romp has been made public.

John Cena is divorcing his childhood sweetheart. According to an exclusive report by TMZ, the WWE star filed the docs in Florida. Cena claimed that his marriage with wife Liz Huberdeau was “irretrievably broken.” The high school sweethearts married three years ago. John Cena and his wife have no children.

Liz Huberdeau has hired Miami attorney Raymond Rafool to represent her. Rafool earlier represented Linda Hogan during her divorce with Hulk Hogan. But John Cena -whose personal worth is estimated at $18 million- may prove a tougher legal nut to crack for Rafool. According to the Miami, FL court documents, Liz Huberdeau signed a pre-nup in 2009 that weakened her legal position.

Attorney Raymond Rafool has already released a statement on the matter. Saying that “It is indeed unfortunate that John Cena decided to divorce his high school sweetheart Liz Cena” and noting that the couple “have come so far in their lives and in his career together,” Rafool still concluded that, “Liz will and really has no choice but to pursue all of her rights and entitlements.”

“Sadly,” he added, “Divorce is not the way Liz thought her perfect love story would end.”

In an 12:12 PM update, Raymond Rafool informed TMZ that John Cena blindsided his wife with the divorce filing. He explained that the couple were already estranged and that John Cena even approached Liz Huberdeau with a pre-divorce financial settlement agreement. But Liz believed that their relationship would still work out, so she refused to sign the document.

Hulk Hogan’s ex-wife, Linda Hogan is one of the people who want to see his sex tape – but for other legal purposes. Linda thinks she can use it to her advantage for the lawsuit Hulk Hogan filed against her.

The said sex tape, which was apparently filmed without Hogan’s knowledge, is making its rounds on the Internet and being shopped to Vivid Entertainment.

Sources close to Linda Hogan claims she would like to get her hands on the sex tape and take a look at it because she feels it could be a key piece of evidence in Hulk’s defamation lawsuit against her. Hulk Hogan filed a lawsuit against Linda last year, claiming she was lying when, in her book, she alleged the former pro wrestler was abusive and cheated on her.

Reports say Linda Hogan would like to figure out when the sex tape was made and who the unidentified brunette in the tape is because it could help her prove Hulk Hogan was a cheater. According to sources, if Linda can figure out who has the sex tape, Linda Hogan will attempt to subpoena them for her case.

Hulk Hogan told TMZ this week he has been faithful to his current wife Jennifer, so the tape is at least five years old.

Amidst the reports of former pro-wrestler Hulk Hogan having a sex tape, adult-film veteran Vivid Entertainment says they are ready for a chance to distribute a sex tape featuring the 58-year-old wrestler.

After TMZ previously reported that Hulk Hogan is front and center in a videotaped sexual encounter with an unknown brunette, he was adamant that he had no idea he was being taped and that he would go after the people behind the sex tape both civilly and criminally.

According to reports, Steven Hirsch from Vivid Entertainment has sent Hulk Hogan a letter, which brags about his company’s stable of stars including Kim Kardashian, Kendra Wilkinson, Tommy Lee and Jimi Hendrix.

“We understand that you believe this sex tape was filmed without your permission,” Vivid founder Steve Hirsch wrote. “Whatever the case, we would still like to discuss the opportunity to work together as we feel this would be one of the bestselling celebrity sex tapes of all time.”

Hirsch, whose company bought a little film called “1 Night in Paris” some years ago, informed Hulk Hogan that they saw “teaser images of what appears to be a seemingly legitimate sex tape” and he believed there would be “a huge demand for the footage.”

“While we appreciate Mr. Hirsch’s thoughts, we respectfully decline to participate in any manner,” attorney David R. Houston said. “This was never a case of feigned outrage. We truly believe the conduct of those attempting to benefit at Hulk’s expense is criminal.”

Attorney Houston said that after the sex tape of Hulk Hogan was leaked, they would take “all necessary steps to enforce both civil and criminal liability.”