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Cristiano Ronaldo’s removal of two Coca-Cola bottles at a Euro 2020 press conference coincided with a $4 billion drop in the US beverage giant’s market value.
The Portugal captain looked visibly upset when he saw two bottles of soft drink in front of him as he sat down to address the media on Monday in Budapest ahead of his country’s opening Group F match against Hungary.
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Ronaldo, an advocate of a healthy diet, took the bottles out of the camera frame and instead held a water bottle and said in Portuguese: “Water!”
Coca-Cola saw its share price fall 1.6% to $55.22 shortly after Ronaldo’s actions. Market capitalization increased from $242 billion to $238 billion – a decrease of $4 billion.
Coca-Cola, the official sponsor of Euro 2020, responded in a statement that “everyone deserves their favorite beverage” with different “tastes and needs”.
Coca-Cola has 200 brands around the world, including different types of water. A spokesperson for Euro 2020 said: “Water is offered to players, along with Coca-Cola and Coca-Cola Zero Sugar, upon arrival at our press conferences.”
Without the support of brands like Coca-Cola, she added, “we would not have been able to organize 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 dates back to 1988 when the company has “a long tradition of supporting all sports at all levels” which allowed “to invest in football at all levels”.
French midfielder Paul Pogba, on Tuesday, removed a bottle of Heineken beer that had been placed in front of him at a press conference following the 1-0 victory over Germany in Munich.
Pogba, a devout Muslim, removed the bottle as he sat down to speak to the media after he was named man of the match.
On Tuesday, Ronaldo, 36, became the top scorer in the history of the European Championship with 11 goals. The Juventus forward scored twice in Portugal’s 3-0 win over Hungary in his record fifth appearance in the tournament.
The defending champion had to wait until the 84th minute to break the deadlock. Ronaldo shared a message with his nearly 300 million Instagram followers about resilience.
The five-time Ballon d’Or winner wrote: “You have to know how to suffer, fight to the end and always believe in all your strength. There are no easy opponents or instant wins in matches.”
“The European Championship is a luxurious stage where there is only the best of the best and where every victory must be won with persistence and selflessness. Big win, team!”
Information from Reuters was used in this report
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