The ad, called "the other game", broke this week and was created by Wieden & Kennedy Amsterdam. It starts in a stadium where Portugal and Brazil are about to play each other.
Before the game kicks off, the players attempt to outdo each other and humiliate their opponents. But they get carried away and end up chasing the ball through the stadium, out into the car park and back on to the pitch before the referee orders a halt.
As they line up to hear their respective national anthems, the camera pans along the faces of the players to show them bruised and battered. The ad features Perry Como's 'Papa Loves Mambo', and stars Brazilian players Ronaldo, Ronaldinho, Roberto Carlos, Diego and Denilson, and Portugal's Figo, Pauleta, Queresma, Cristiano Ronaldo and Ricardo.
Eric Cantona, Italy striker Francesco Totti and Portugal manager Philip Scolari make guest appearances.
It was written by Sebastian Wilhelm and art directed by Ollie Watson. Frederick Bond directed the ad, which was filmed in Spain and the UK, and produced by MJZ.
Carlos Bayala, creative director at Wieden & Kennedy, said: "It's great to see the most amazing football players in the world playing for fun, like kids, and competing against each other with such passion.
"These athletes got to this level not only because of their amazing skills and love of football but also because of their natural desire to win. They don't even want to lose the friendliest of friendly games."
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .