Ronaldo pushes Coke bottles aside, drink’s market value plummets $4 billion

Portuguese football great Cristiano Ronaldo proved celebrities can make or mar a brand when his small act of pushing aside Coca Cola bottles during a Euro 2020 press conference on Tuesday (June 15) hit the cola giant’s market value badly.

The 36-year-old was seen removing two bottles of the aerated drink placed in front of him. Coke is an official sponsor of Euro 2020, and the bottles were probably a strategic placement. He then went on to display a water bottle in front of the media persons gathered for the brief.

Ronaldo’s small act had a ripple effect as the video went viral and was shared widely all over the world. A few hours later, the popular beverage brand’s market value plummeted by a whopping $4 billion ($238 billion from $242 billion). The company’s stock price fell by 1.6 per cent — down from $56.10 to $55.22.

Coca-Cola tried to do some fire fighting and salvage its reputation. “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences. Everyone is entitled to their drink preferences and everyone has different tastes and needs,” said an official company release.

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

Also read: Cristiano Ronaldo breaks all-time Euro goals record

Ronaldo is 36 years old but is fit enough to take on any young player. Off the field, he strictly advocates a healthy diet and asks youngsters to stay away from sugary drinks. A small gesture by their hero went viral online and invited adverse reactions on drinking aerated drinks.

On Tuesday (June 15), Ronaldo scored twice against Hungary in the Euro 2020 opener to help Portugal win 3-0. He now has a record of scoring 11 goals in the Euro championship – the highest by any player till date.