Man on man sport fighting: Homo erotic element?

I am a straight female and would like to know from people whether they feel man on man fighting (wrestling/boxing etc) has any homo erotic elements. I personally feel that they do, whether or not the viewer may be conscience of this I feel that two half naked men who are proving their machoness and masculinity through groping each other and writhing around could have homo erotic elements. I have heard from gay men who have mixed opinions on this. I would like to know the opinions of different people, gender and sexuality. Thank You