Dana never said, "I hate gay homo faggot queers, they are a plaque of sub humans and should all be killed" He also didn't say, "Hey! Impressionable youth! You should hate gays!" He also didn't say, "Women shouldn't be paid as much as men and are statistically stupider, smellier and are carriers of cooties."
He didn't say that, he didn't mean it and he probably doesn't think it, but the point is, he is the president and partial owner of the UFC, and you can't do stuff like that. Clearly UFC's PR group agrees because they took the video down.