Real wrestling is more gay than professional/fake wrestling.

Anyway, in the West, many male vs. male sports can trace some, if not most, of their aspects to classical Greece, where men oiled themselves up and often competed naked, as well as where homosexuality was at least tolerable, if not outright accepted.

Even in sports where athletes were not competing against each other one on one, it wasn't simply about who was fastest or strongest...it was about appreciating the magnificence of the human form. Greeks were not ashamed of appreciating a man's proportions or muscle tone...heck, we even give a nod to it today when we define a muscular male as "chiseled", "sculpted", or "cut", that is, like (one of those nude Greek) statues.

So if you wanted to call appreciation of masculinity by competitors and spectators as homoerotic, then I would have to say that many sports are inherently "gay." Wrestling is just probably the most obvious.