I have great success with using IS mode 2 for Soccer and Football. Mode 3 should work as well but there is not any benefit. Mode 2 lets me hold focus better on the players faces.
I have taken shots extensively with and without IS enabled. As long as you use a fast shutter speed, the image will be frozen. No difference in IQ with or without. Note, I only use IS to allow me to hand hold and maintain a tight focus on the players faces.
Otherwise generally no need to use IS for sports. Mode 3 wont help you hold the focus point as it activates only when the shutter is pressed.