7:48 AM PT -- Jim Cornette is out at NWA. The company just announced the longtime announcer resigned the morning after his crazy racist comment streamed on the internet.
NWA issued a statement ... "Effective immediately: Jim Cornette has resigned from the National Wrestling Alliance. As an announcer on the November 19th edition of NWA Power, Jim made remarks during a singles match between Nick Aldis and Trevor Murdoch that were both offensive and do not meet the high standards of decency and good faith of the National Wrestling Alliance."
"To ensure that such an error can never happen again, we've established new procedures of review for all NWA programming going forward."
"We sincerely regret our failure in this regard."
Yo, Jim Cornette ... WHAT THE HELL IS WRONG WITH YOU?!
The longtime wrestling commentator said some insanely offensive stuff during an episode of "NWA Power" ... and it's so bad, the company has PULLED the episode.
Cornette was calling a match between champion Nick Aldis and Trevor Murdoch -- when the announcer tried to praise Murdoch for his toughness ... and went super racist.
"He’s the only man I’ve ever known that can strap a bucket of fried chicken on his back and ride a motor scooter across Ethiopia."
National Wrestling Alliance
Of course, there was IMMEDIATE outrage -- prompting NWA Vice President Dave Lagana to issue an apology on behalf of the company.
"On tonight's episode of NWA Power airing on November 19th 2019, one of our talents made comments which some viewers found offensive. We deeply regret the error and apologize."
Lagana added, "We have temporarily taken the program down while we correct this error."
Cornette has been in hot water for comments made on-air in the past -- in fact, NWA previously issued an apology when Cornette was "making light on the subject of suicide."
58-year-old Cornette has been a staple in pro wrestling for decades -- working for major promotions like WWE and Impact Wrestling.
So far, no word yet from Cornette on the incident.