KTLA reports that the discovery was made about halfway between the Venice Beach pier and the lifeguard headquarters by two people walking on the beach at around 1:30am local time, according to a Los Angeles Police Department spokesperson.
The body reportedly washed ashore and did not show any initial signs of foul play. No information regarding the sex, age or race of the body was released.
"At this stage, because of sensitivity, I don't want to disclose that," the LAPD spokesperson said of the identity.
The 39 year old Gaspard went missing on Sunday after getting caught in a strong rip current with his son. He instructed the first responding lifeguard to help his son, and that decision saved his son's life. Gaspard was then hit by a large wave that took him under, and he hasn't been seen since. You can click here for details on what happened during the rescue from the first responders. The recent statements from Vince McMahon and WWE on the Shad incident, and support for the Gaspard family can be found here. The recent statement from Shad's wife Siliana can be found at this link.
Stay tuned for updates on the Gaspard accident.
Jelo G Cantos contributed to this article.