Paul Walker's Cologne -- Sorry We Aired That Ad During Soccer Game

The cologne company that aired a commercial featuring Paul Walker during a huge soccer game less than a day after his death ... tells TMZ Sports, they're sorry for the bad timing and are working to remove the ad.

Walker -- who was a spokesman for Cool Water by Davidoff -- was featured in an ad for the product that ran during the U.K. broadcast of the Chelsea vs. Southampton match on Sunday ... and fans were pissed that spot ran so soon after he passed.

Now Coty, Inc. -- the company that owns the fragrance -- is issuing a mea culpa for the mistake ... saying, "We apologize for any upset that may have been caused by those that were aired subsequent to his death."

The rep added, "We are working quickly to suspend all of our ads featuring Paul out of respect to his family and friends."

Probably a good idea.