I baked a sports ball cake on monday and it's been wrapped in my refrigerator up until today (wednesday). I'm going to frost it today. When that is done, should it be stored in my freezer or refrigerator? I won't be needing it until Saturday. Or, should I just go ahead and bake another one? (not sure if I baked it too much in advance). Thanks!

Neither.

The refrigerator will dry it out, and the freezer isn't necessary... you can leave it out on the counter at room temperature as long as you aren't using perishable filling.

It will be more moist as the icing gets a chance to meld together with the cake.