Coca-Cola Market Value Falls $4B After Cristiano Ronaldo Removes Bottles for Water

Joseph Zucker@@JosephZuckerFeatured Columnist IVJune 16, 2021

Angel Martinez - UEFA/UEFA via Getty Images

With one word, Portugal star Cristiano Ronaldo caused Coca-Cola to lose $4 billion of its market value, according to ESPN's Adriana Garcia.

Ronaldo was preparing to begin a press conference when he removed two Coke bottles from the table, lifted a bottle of water and said "agua" in his native Portuguese.

Sky News @SkyNews

Football star @Cristiano Ronaldo removed two bottles of tournament sponsors Coca-Cola as he entered a #Euro2020 news conference before encouraging people to drink water.<br><br>Watch more videos from Sky News: https://t.co/gQ5Raqks0q pic.twitter.com/XiKgBrgjw0

That apparently was enough for Coca-Cola's value to fall from $242 billion to $238 billion.

Coca-Cola remained diplomatic.

"Everyone is entitled to their drink preferences," the company said in a statement.

A UEFA spokesperson added that players are provided with Coke, Coke Zero Sugar and water at official press conferences.

UEFA announced in September 2019 that Coca-Cola had signed on as "the official non-alcoholic beverage sponsor" for Euro 2020: "The sponsorship deal will give the company the opportunity to showcase several brands, including sparkling beverages, sports drinks, water, ready-to-drink coffee and fruit-based drinks, with low, and sugar-free options."

In this case, Ronaldo was the one inflicting the financial harm on Coca-Cola and not the other way around.

Brazilian legend Ronaldinho wasn't so lucky in 2012. The 2005 Ballon d'Or winner lost his $750,000-a-year sponsorship deal with the company after sipping from a can of Pepsi during a press conference.

Video Play Button
Videos you might like
slash iconYour sports. Delivered.

Enjoy our content? Join our newsletter to get the latest in sports news delivered straight to your inbox!