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ITT: wrestling gimmicks, moments, controversies, matches, and promos and there pop culture, internet, or historical equivalent
copy/pasted from quora:

What is/was the Olympics equivalent of WWE's Montreal Screwjob?
The 1972 Gold Medal Basketball final between the USA and the USSR.
How good was the United States? They had not only won every gold medal to that point, but they had never lost a game in Olympic competition ever - they were 63–0. Moreover, this was no “dream team”. This was a team largely made up of college basketball players. Most of them later played in the pros, but for the most part this was a team of no-name players. They still dominated the tournament. Their closest game was a 67–54 game against Brazil.
In the Final, the USSR was up 49–48 when the American scored with 3 seconds on the clock to go up 50–49.
The Soviets threw a long inbounds pass down the court but it was easily knocked away by the Americans for a victory!
Oh, wait, no it wasn’t. The Soviets claimed they had called a time out. The referees allowed it and the Soviets were given another in-bounds pass. The Soviets threw it deep again and again the Americans knocked it down. Victory!
Oh, wait, no it wasn’t. The referee ruled they hadn’t blown time in before the inbounds pass was made. An Olympic official was consulted and they decided that, no, the pass was during a dead ball period and didn’t count, so we’re back to 3 seconds left and an inbound pass from deep in the Soviet end.
Third time’s the charm - USSR 51 USA 50 as the last three seconds takes over three minutes to play.
The Americans didn’t bother showing up to collect their silver medals.