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The following is from CNN.com: (CNN) -- The teenage son of wrestling star Hulk Hogan and a companion were seriously injured in a high-speed car accident in his hometown of Clearwater, Fla., Sunday evening, a police spokesman said. Nick Bollea was the driver of a Toyota Supra that went out of control and slammed into a palm tree while headed out of downtown Clearwater at a "high rate of speed" about 7:30 p.m. Sunday, Clearwater police spokesman Wayne Shelor said. "It destroyed the car," he said. Hogan, one of the top professional wrestlers of the 1980s and 1990s, is now featured in the VH1 reality show "Hogan Knows Best." His son, wife and daughter regularly appear on the show. A helicopter took Bollea and his passenger, whose identity was not immediately released, to a hospital in nearby St. Petersburg after paramedics removed them from the wreckage, Shelor said. "They're both down there. Nick's father (Hulk Hogan_ is down there," he said. (Posted 9:35 p.m.)

The injuries are said to be 'very very serious'.

Nick Hogan In a Serious Car Accident

Posted Aug 26th 2007 9:22PM by TMZ Staff

Filed under: TV

Hulk Hogan's son Nick was seriously injured in a car accident tonight in Clearwater, Fl.

Law enforcement tells TMZ the accident occurred around 7:31 p.m. ET tonight. According to police, a Toyota Supra, driven by Nick Bollea (Hogan's real name), was traveling at a very high rate of speed when it lost control and hit a raised median. The car was flipped around and the back end hit a palm tree. The impact, we're told, "destroyed the entire car." The two male occupants were flown by Medivac helicopter from the accident scene to a hospital in St Petersburg. We're told both injuries are "very very serious."

The accident happened on Court Street, a main drag in downtown Clearwater, causing the entire street to be shut down for hours.

No 911 call was made to police. The accident was actually called in by an officer who rolled up right after the crash happened.

From People.com

According to a hospital source, the wrestler and his family are in a private waiting room as Bollea is being treated for "very serious, life-threatening" injuries. Hogan declined to address the media through a hospital spokesperson on Sunday evening, but plans to make a statement on Monday morning.

This is really sad - I saw the photos of the car - not pretty.

Hope he makes it - and I pray for the Hogan family. I love their TV show.

Wow! After seeing those pictures this is definitely very serious! My thoughts are with the Hogan's and the other passenger who is still in critical condition! According to PerezHilton, Nick has already been released from the hospital.

It looks like they were drag racing so Nick could get some jail time. Especially if his passenger doesn't make it. The show has documented his love of racing, but I never thought he'd be doing it illegally. IIRC, he had a near miss on the show once and of course one of his cars set on fire last year.

Can't wait to hear more details on this.

He apparently was released from the hospital this morning, but his friend is still in critical condition.

Yahoo confirmed that Nick has left the hospital. I hope that his friend pulls through.

Somehow I don't think he will get any jail time but I do think there will be a huge lawsuit against Nick by his passenger or passenger's family.

Ouch not good. I am praying that he makes it through this and comes out stronger and makes a full recovery