Cristiano Ronaldo’s Gesture Costs Coca-Cola ‘$4bn’ Market Value

Cristiano Ronaldo’s Gesture Costs Coca-Cola ‘$4bn’ Market Value 2

Cristiano Ronaldo, Portuguese football star, removed two Coca-Cola bottles from his table during a press conference at the Euros 2020.

The gesture coincided with a $4 billion price fall in the value of the drinks giant.

After removing the carbonated drink, Ronaldo held up a bottle of water before saying “Agua” (water) in a gesture to encourage people to choose the latter instead.

Coca-Cola, one of the official sponsors of Euro 2020, share price declined from $56.10 to $55.22 (a 1.6 percent dip) almost immediately after Ronaldo’s act, while the market value of the soft drink giant went from $242 billion to $238 billion (a decrease of $4 billion).

Responding to the Portuguese professional footballer act, Coca-Cola in a statement on Tuesday, said everyone is entitled to their drink preferences” with different “tastes and needs”.

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

Ronaldo’s action may be tied to his sponsorship agreement with Pepsi who is Coca Cola’s main rival, however, it can also be linked to his strict health diet as his known to dislike sugary foods, including soft drinks.

In 2020, he said: “We’ll have to wait and see if my son becomes a great player. At times he eats crisps and drinks fizzy drinks and he knows that makes me angry, but I guess that’s normal behaviour for a ten-year-old boy”.

Recently, Ronaldo also said: “I’m tough with my son. Sometimes he drinks Coca Cola and Fanta, he eats crisps and he knows I don’t like it”.

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