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"was a Mexican professional wrestler best known for performing under the stage name" - who performed under the stage name; try to avoid the phrase "best known"
"For years Arturo Díaz was one of the featured performers for the Universal Wrestling Association and during a career that spanned from 1970 until 2015 he worked for all major Mexican wrestling promotions such as Consejo Mundial de Lucha Libre and AAA as well as numerous notable smaller Mexican promotions like International Wrestling Revolution Group." - During his 35 year career, Arturo Díaz was one of the featured performers for the Universal Wrestling Association, and for all the all major Mexican wrestling promotions such as Consejo Mundial de Lucha Libre and AAA as well as numerous notable smaller Mexican promotions like International Wrestling Revolution Group.
"In contrast one of his last matches ever, at Triplemanía XXIII was voted the "worst match of the year" in 2015" - a period is needed at the end of this sentence
"and pushed as one of the top stars, in no small part thanks to his father, but also because Villano III was the most talented of the Villanos." - was pushed as one of its top stars, due to his father's infulence and Vilano being the Vilanos' most talented wrestler.
The second paragraph could be separated into two for better readability, most preferably when Vilano won his second WWF Light Heavyweight Title.
"who would go on to main event a series of sold out UWA shows." - who would go on to compete in a series of sold out UWA shows.
"often teaming with Villano I.." - remove the second period
"Over the following years Villano III traded the WWF Light Heavyweight Championship back and forth with Perro Aguayo, Rambo, and Sangre Chicana" - Over the following years, Villano III traded the WWF Light Heavyweight Championship with Perro Aguayo, Rambo, and Sangre Chicana.
"Villano III's CMLL World Light Heavyweight Championship reign came to an end on September 7, 2001," - ended
"Around 2010, Díaz's wrestling appearances slowed down" - reduced
"Arturo Díaz announced that he would retire from active competition due to several knee injuries and diminishing eyesight leaving him unable to compete as he used to in the past." - competitively
"While Los Villanos won the match the age of the Villanos and deteriorating health of Villano III and V led to the match being filled with mistakes and so poorly received that it was voted the " worst match of 2015 by the readers of the Wresting Observer." - While Los Villanos won the match, the Villano's age and Villano III and V's deteriorating health led to many mistakes leading to match being heavily criticized, and it was voted the "worst match of 2015" by Wrestling Observer readers.
"wanted to spare them the physical suffering he experienced himself." - wanted to spare them his own physical suffering.
"Once he realized that his two oldest sons had begun wrestling under masks he agreed to train them and help their wrestling careers." - , he agreed to train them and aid in their careers.
"He was also instrumental in training the rest of his son," - sons
"two sos who wrestle under the names" - same problem as above
"Hi in ring speed helped make his La magistral cradle so effective as he was able to apply it to an opponent in a split second." - His in-ring speed helped make his La magistral cradle so effective, he was able to apply it to an opponent instantly.
"into locking in his " Media Cerrajera" submission" - locking his Media Carrajera submission
"The Wrestling Observer stated that he had 58 successful" - italicize Wrestling Observer
"Over the years Los Villanos have have changed up their color schemes" - Over the years, Los Villanos have changed their color schemes,