Cristiano Ronaldo’s Disdain For Coca-Cola Wipes Billions Off Market Value

Cristiano Ronaldo - Coca-Cola

Cristiano Ronaldo‘s removal of two Coca-Cola bottles at a Euro 2020 news conference coincided with a $4 billion drop in the share price of the drink giant.

The Portugal captain was visibly disgusted when he saw two bottles of the soft drink as he sat down to speak to the media ahead of Portugal’s Group F opener against Hungary.

Extreme Fitness fanatic Ronaldo moved the glass bottles out of the camera frame and instead held up a bottle of water in while he said in Portuguese the word for water “Agua!”.

Coca-Cola saw their share price dropped by 1.6% to $55.22 soon after Ronaldo’s actions. The market value went from $242bn to $238bn — a $4bn drop.

Coca-Cola, an official sponsor of Euro 2020, responded in a statement that “everyone is entitled to their drink preferences” with different “tastes and needs.”

A Euro 2020 spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

It added that without the support of brands like Coca-Cola “we could not organise a tournament with such success for players and fans, nor invest in the future of football at all levels.”

Coca-Cola’s partnership with UEFA goes back to 1988 with the company having “a long tradition of supporting all sports at its various levels” and which has allowed “investment in football at all levels.”

Ronaldo, 36, became the leading scorer in European Championship history with 11 goals as he netted twice on Tuesday. The Juventus forward struck twice in Portugal’s 3-0 win over Hungary in what was his record fifth tournament appearance.