Whoever posted this commercial called it racist, but I strongly disagree.
I, and probably most viewers, identify and sympathize with the athlete; I recognize him as an athlete and not a monkey, what kind of racist would think he looked like a monkey? I think it's clear that the commercial is strongly critical of the racist overreaction of the mother.
I saw this on TV about seven years ago, it didn't last long on the airwaves. "Darky" toothpaste, that's some racist shit right there, but this commercial? I could, of course, be wrong, but I don't think it is.