Yes, its true. Octopus Wrestling once was a fad in America, back when extreme sports required more than a bad tribal tattoo, a tanning bed, and a parachute. I feel another golden age dawning . . .
read more here - http://blog.modernmechanix.com/2006/07/18/octopus-wrestling-is-my-hobby/
and the wiki article - http://en.wikipedia.org/wiki/Octopus_wrestling
http://www.youtube.com/watch?v=gj_lovpy9QI&eurl=http://bitsontheside.co.nz/2008/07/03/octopus-eats-shark/&feature=player_embedded
Sweet! We have to find video of this.