Ray Wagner was a member of the Delaware Valley High School Class of 1975. As a Junior he won the Heavyweight Championship at the Delaware Valley Christmas Tournament. In his Junior and Senior seasons, Ray won the District XII Heavyweight Wrestling Title. During the two years he wrestled in high school, Ray compiled a record of 37-4-0 with a total of 27 pins in 41 matches.
Ray continued his wrestling career at Kent University where he was a three time Mid-American Wrestling Champion and an All-American, placing 12th, 9th, and 5th in the National Tournament in successive years. Ray's 43 pins at Kent State are the most pins recorded by any wrestler in the history of the school. Ray also lettered in football at Kent State and continued his career playing professional football with the Denver Gold of the United States Football League and with the Cincinnati Bengals of the National Football League. In 1992, he was inducted into the Kent State University Athletic Hall of Fame.