Where in the ad do you see anthing that is copyrighted?
It is the entire basis of the story. The IOC and, within the US, the USOC own the rights to the use of the phrases "Olympic Games" and "Olympics" and "Olympiad" - which is why just about every four years you see stories about a crackdown on unauthorized merchandise and the use of the name to promote this business or that one. The entire basis for the request to pull the ad is that the campaign does not have authorization to use the name or depictions of the Games.