I did this last year for the Super Bowl, and it was great fun. It got people right into every quarter of the game, regardless of their rooting interests (or even interest in sports). I'll definitely be doing it again this year.
I highly recommend one small twist: assign numbers to the rows and columns with sticky notes, rather than writing them in, and randomly re-assign these numbers each quarter. This way nobody's frozen out of the action all game because they're at the dreaded intersection of 2 and 2.