I think maybe a middle ground is appropriate. Banning songs simply causes animosity in many cases, but I think it's probably better if sports organisations don't give any support or provide accompaniment to "edgy" songs.
In the performances of the song that I've seen, it's mostly the hand motions that could be deemed offensive. The "slavery origins" of the song mantioned in the first message aren't what's objectionable. It's the use of a slave song for frivolous purposes. And I think the best response is to show no official support, not to ban a song.