Input your search keywords and press Enter.

Ronaldo snub wipes US$4 billion off Coca-Cola’s market value

CRISTIANO Ronaldo’s removal of two Coca-Cola bottles at a Euro 2020 news conference coincided with a $4 billion drop in the market value of the American drink giant.

The Portugal captain was visibly troubled when he saw two bottles of the carbonated soft drink in front of him as he sat down to speak to the media on Monday in Budapest ahead of his national team’s Group F opener against Hungary.

Ronaldo, 36, became the leading scorer in European Championship history with 11 goals.

Ronaldo, an advocate of a healthy diet, moved the glass bottles out of the camera frame and instead held up a bottle of water and said in Portuguese: “Water!”

Coca-Cola saw its share price drop by 1,6% to US$55,22 soon after Ronaldo’s actions. The market value went from US$242 billion to US$238 billion a US$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.”

Coca-Cola company has 200 brands worldwide, including different types of water. A Euro 2020 spokesperson said: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

They 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.”

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

The defending champions had to wait until the 84th minute to break the deadlock. Ronaldo later shared a message with his almost 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 with all your strength. There are no easy opponents or games won straight away.

“The European Championship is a luxury stage where only the best of the best are present and where every victory has to be won with all the determination and selflessness. Big win, team!”

Meanwhile, Paul Pogba is the latest footballer to overtly snub official sponsors after the France star removed a bottle of Heineken placed in front of him at a Euro 2020 press conference.

Pogba, a devout Muslim, was seen moving the beer bottle from the table directly in front of him as he undertook media obligations following France’s opening victory over Germany on Tuesday night.

For Muslims, alcohol is ‘haram’ or forbidden, so the Manchester United star’s removal of the bottle is likely to be due to his unwillingness to endorse the competition’s sponsor.

According to the Manchester Evening News, Pogba became a Muslim in 2019, describing the decision as making him more ‘peaceful inside’.

‘It’s everything. That’s what makes me thankful for everything,’ Pogba told the Times via MEN of his decision to embrace Islam.

‘It made me change, realise things in life. I guess, maybe, it makes me more peaceful inside.

‘It was a good change in my life because I wasn’t born a Muslim, even if my mum was. I just grew up like that, respect for everyone.

‘Islam is not the image that everyone sees – terrorism… What we hear in the media is really something else, it’s something beautiful.

‘You get to know it. Anybody can find that he feels connected with Islam. It came because I have a lot of friends who are Muslim. We always talk.

‘I was questioning myself in a lot of things, then I started doing my own research. I prayed once with my friends and I felt something different. I felt really good.’

Pogba has also visited Mecca, Islam’s place of pilgrimage, with fellow countryman and Chelsea star Kurt Zouma, posting on Instagram: ‘Never forget the important things in life.’

It remains to be seen whether Heineken will respond to Pogba’s removal of their product from his post-match press conference. In response to Ronaldo’s move, Coca-Cola said that ‘everyone is entitled to their drink preferences’.

World Cup winner Pogba played a starring role in France’s win over Germany to kickstart their Euros campaign. The 28-year-old played an outstanding pass to help split open the German defence and lead to Mats Hummels’ own goal in the first half.

‘I was questioning myself in a lot of things, then I started doing my own research. I prayed once with my friends and I felt something different. I felt really good.’

Pogba has also visited Mecca, Islam’s place of pilgrimage, with fellow countryman and Chelsea star Kurt Zouma, posting on Instagram: ‘Never forget the important things in life.’

It remains to be seen whether Heineken will respond to Pogba’s removal of their product from his post-match press conference. In response to Ronaldo’s move, Coca-Cola said that ‘everyone is entitled to their drink preferences’.

World Cup winner Pogba played a starring role in France’s win over Germany to kickstart their Euros campaign. The 28-year-old played an outstanding pass to help split open the German defence and lead to Mats Hummels’ own goal in the first half. espn.com/dailymail.co.uk