Short of time so I'm going to borrow copy from Mark Sweney's piece in The Guardian:

Nike's press campaign, created by ad agency Wieden & Kennedy London, features three Nike-sponsored London 2012 hopefuls.

It will break in the Sun and the News of the World this weekend as the Beijing Games draw to a close.

One
ad features Brixtonian NBA basketballer Luol Deng, who will be part of
Britain's first ever team to make the Olympic finals in London 2012,
who appears to be about to slam dunk a ball into a piece of machinery.

"Luol
shoots a thousand hoops a day," says a line of copy in the ad. "Now
he's counting down until he comes home to compete in four years' time.
I'll be ready."

A Nike spokesman said: "It is not a case of using
athletes who have success already but ones with potential next time.
There is a heightened sense of expectation and anticipation after the
success of Beijing."

Nike has also created press ads featuring
19-year-old middle distance runner Emily Pidgeon and 17-year-old
sprinter Ashlee Nelson both training in scenes that look like Olympic
construction building sites.

The ad featuring Nelson will also
run as an outdoor campaign, while the Deng ad will run as an instant
messenger banner linking to Nike's website.

According to The Wall Street Journal Wieden + Kennedy Amsterdam's Coca-Cola Olympics ad has been one of the most popular spots with US viewers.

WSJ says: Coca-Cola's whimsical ad dubbed "Bird's Nest" was one of the
best-remembered and most-liked commercials during the first week of
NBC's prime-time Olympic coverage, according to IAG. The spot features
birds making a nest that is modeled after the Olympic stadium in
Beijing. The animated creatures make their new home out of straws
swiped from Coke bottles and containers.