Well,
it sounds like a nice little minor story line. It guarantees different matches with multiple opponents. Also the "stupid excuses" are a reason to try it, if you are creative enough.
Those were the advantages. Unfortunately that idea has a lot of disadvantages, too. If a wrestler gets bashed in a match, that means xp- and money loss for both, fed and wrestlers. Also those weapon attacks are still not seen well in RP. That's difficult as well.
But before finally deciding, I will need you to explain me the ending, to which the storyline should lead after all. What is your final goal with that storyline?