The truth is it has been done before and even done well. In 2004 Adidas created an amazing TV spot showing Muhammed Ali vs Leila Ali in the famous "impossible is nothing" campaign.
http://www.youtube.com/watch?v=HYOIv6m3gsI
This year for Xmas it's the NBA's turn to let the old play with the new in a beautiful and moving commercial.
http://www.youtube.com/watch?feature=player_embedded&v=exZuVO3PEbM
As I always say: "Sometimes great minds think alike, but even if they don't it's still important to know how to imitate"
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