EXCLUSIVE

The Iron Sheik isn't just a WWE legend ... he's also a veteran Olympic wrestler ... and he's so pissed that his sport is getting booted from the Games ... he's now threatening violence.

As we previously reported, the International Olympic Committee has moved to drop wrestling from the 2020 games ... in favor of other sports like field hockey. Seriously.

Now, Sheik -- who says he competed for Iran in the 1968 Olympics and then became an asst. coach for Team USA in the '70s -- tells TMZ (in his trademark broken English) he's looking to take matters into his own hands.

"After 1000 years they take away the best sport in the world? This is the first time the dumb motherf**kers have no balls for they make the walking an Olympic sport."

He adds, "If I see anybody on the street that work from the IOC I swear to the Jesus I suplex them put them in camel clutch break their back make them humble."

"The #TEAMSHEIKIE respect the Olympic now they can all go f**k themselves and make the Curling Olympic sport because they all the biggest piece of no good s**t and I never watch the Olympic again. Also buy my t shirt [on my website] or go f**k yourself.”