Well, England's participation is. And yet the advertising goes on. I've never quite managed to make my mind up about the Budweiser World Cup idents.
The EDF ones are clearly shit, but some of the Bud ones are okay, despite the central flaw in their "You do the football, we'll do the beer premise." After all, if they're not into football, why are they sponsoring it?
(Incidentally, the ad above is a spoof... here are the real ones.)