2:45 PM PT -- Local Pop Warner officials tell TMZ Sports an investigation into the incident is underway ... and "all information" is being reviewed in preparation for a hearing on the matter.
Rocky Mountain Pop Warner president Michael Stearns also notes the org. hired an audio specialist to enhance the audio of the clip ... and they determined the man in question did not use a racial slur. Instead, they claim he said "m*****s."
"This word is equally concerning to Rocky Mountain Pop Warner as there is no place for any type of derogatory and/or harassing language to be used within Pop Warner. All matters will be reviewed and actions taken appropriately by our league."
9:21 AM PT -- Zeric Martinez -- the Mountain Lions' former president and coaching volunteer -- says he spoke with several witnesses present at the time of the altercation, and they are adamant no racial slurs were said during the exchange.
Witnesses claim the man in the video yelled an offensive term for little people in response to a similar comment made by a Hamden coach ... but deny the man in the video said anything racially charged.
Pop Warner has launched an investigation into a disgusting incident following a tournament game ... in which coaches were allegedly targeted with racial slurs by a man affiliated with the opposing team.
It all went down hours after the Hamden Hurricanes (CT) beat the Highlands Ranch Mountain Lions (CO) in the Div. 2 12U quarterfinals of the Pop Warner National Championships on Dec. 3 ... when coaches on both teams ran into each other at the hotel they were staying at in Orlando.
In the footage, obtained by TMZ Sports, the Hamden coaches are clearly trying to distance themselves from the Highlands Ranch staffers ... with one man explaining they were told by the "higher ups" to avoid any interaction.
Sources tell us the reason behind the tense interaction was due to coaches and fans of Highlands Ranch allegedly yelling racially charged words at Hamden, a team that consists of mostly Black players, throughout the game.
In the video, a Highlands Ranch coach continues to try to talk to adults with Hamden ... but they repeatedly say they aren't interested in talking, as they "have more s*** to lose."
Eventually, Hamden leaves the area ... and that's when a man -- who we're told is affiliated with the Highlands Ranch team -- hurled out the racial slurs, according to sources ... who claim he referred to them as "f***ing n*****s."
Pop Warner released a statement to TMZ Sports ... saying, "The disturbing behavior shown in the video is inconsistent with our code of conduct and the expectations we have of our adult volunteers."
The org. says it will conduct an investigative hearing on the matter next week ... and if the person in the video is, in fact, affiliated with a PW team, they will face discipline -- including suspension.
"One thing is clear: the abhorrent conduct and language exhibited in this video are unacceptable," Pop Warner added. "Our organization is committed to a safe, inclusive, and positive environment for all young people and their families."
"No one should ever encounter this kind of behavior. We will take all measures necessary to address the situation."