Euro 2020: Coca-Cola loses $4 bn as Cristiano Ronaldo removes soft drink to endorse water

After Cristiano Ronaldo courted controversy when he moved Coca-Cola bottles placed in front of him during a Euro 2020 press conference, reports have suggested that the small gesture by the football legend has cost the aerated beverage company a fortune. 

On the eve of Portugal's Euro 2020 opener against Hungary, the star footballer sat down for a press conference with the media. Here bottles of Coca-Cola which a sponsor for the event were placed before him on the table. However, before starting the press conference, the 36-year-old Juventus star chose to move the Coca-Cola bottles out of the frame. Lifting up a bottle of water, Ronaldo said 'Agua’ in Portuguese, urging people to drink water instead. 

Shortly after the incident, 'Cristiano Ronaldo Coca Cola video' began trending on social media with fans lauding him for promoting healthy food choices as a sports icon. However, the 'Cristiano Ronaldo Coca Cola video' has reportedly caused a massive loss of finances for the soft drink beverage.

According to a report in The Daily Star, the gesture by the football icon reportedly cost the company $4 billion in stock value. The Coca-Cola stock prices plummetted by 1.6% and went from being USD 242 billion to USD 238 billion after the Cristiano Ronaldo controversy according to the report. 

Meanwhile, a Coca-Cola spokesperson has responded to the Ronaldo controversy saying that 'everyone is entitled to their drink preferences.' The spokesperson has also mentioned that apart from Coca-Cola and Coca-Cola Zero Sugar, players were also being offered water on their arrival at the Euro 2020 press conferences.

Check out the Cristiano Ronaldo Coca-Cola incident 

Euro 2020: Portugal Vs Hungary

Aside from the Cristiano Ronaldo controversy, the football legend also left fans talking about his on-field antics after he scored two goals in the Portugal Vs Hungary opener and went ahead of France’s Michel Platini to become a record goalscorer and take his tally to 11. After a rocky start, Portugal struck Hungary three times to beat them 3-0 in their Euro 2020 opener at the Puskas Arena.