June 16, (THEWILL)- What seemed an innocuous act of preference for water instead of fizzy drinks by Cristiano Ronaldo on Monday as he sat for a pre-match Press Conference with national team coach, Fernando Santos, appears to have had more far-reaching effects than anyone could have predicted.
As reported by THEWILL, the Portuguese record-setting striker removed two Coca-Cola bottles that were displayed in front of him at a Euro 2020 Press meet and that allegedly small act of personal preference was followed by a loss of $4 billion from the market value of the global company.
THEWILL recalls that Ronaldo was speaking at a Press Conference ahead of Portugal’s game against Hungary on Monday when the soft drinks were placed in front of his seat as a promotional nod to a major UEFA sponsor. But, the 36-year-old removed them from view and expressed a preference for water.
That should have been all because the Press Conference went on without incident after that and Portugal then went on to beat Hungary 3-0 with Ronaldo finding the net twice to become the first player to play in five European continental competitions and the highest goal-scorer in the history of the tournament.
However, the far-reaching impact of the football megastar’s influence was witnessed when there was a corresponding drop in the market value of Coca-Cola by a significant margin in the aftermath of the Press Conference act of Ronaldo with the two Coca-Cola bottles.
When the markets opened for trading on Monday, shares of the soft drinks company were worth $56.1 each. At the end of the Press Conference, they had fallen to $55.2 each, in such a direct hit that could not have been merely coincidental. The 1.6 percent difference represented a market value loss of $4 billion.
As at going to Press, THEWILL can reveal that the share price has crept back up to $55.41 per share after closing Tuesday on $55.55 and the company, with a market capitalisation of $238.91 billion, will not sweat the loss of the previous day’s trading.
That was the basis of their response to the actions of the football star. An initial shrug was how the Coca-Cola Company responded with an openness to acknowledging different tastes with the words “everyone is entitled to their drink preferences” and that everyone has different “tastes and needs.”
In another quote from a company spokesperson, they added: “Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our Press Conferences.”
Whether the company will take up any form of deterring actions with UEFA to make sure another dramatic sequence is avoided in future and what UEFA will do to keep their sponsors happy will be a serious conversation that the continental football body will be having.
As for Ronaldo, he has made a point to wear the very notion of discipline and professionalism on his sleeve. As a veteran of an incredibly strict diet, the Juve forward is known to avoid sugary foods and implements an exemplary regimen even for his family, especially his son, Ronaldo Jr.
Part of this healthy practice involves Ronaldo eating up to six clean meals a day to help maintain his incredible physique and keep out the excesses of indulgent sugars and fats.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
