Coca-Cola responds to Ronaldo snub, says 'everyone is entitled to their drink preferences'

Global beverage company Coca-Cola is reported to have lost a whopping $4 billion in brand value after football superstar Cristiano Ronaldo asked people to "drink water" as he put two bottles of the soda drink aside during a press conference on Tuesday. The incident occurred ahead of Portugal's EURO 2020 game against Hungary when Ronaldo arrived at the press conference and removed two Coca-Cola bottles from the centre of the frame despite the company being one of the main sponsors of the tournament. After removing the bottles, Ronaldo urged everyone to drink water instead, which is supposed to have led to the downfall in shares of Coca-Cola. 

Coca-Cola has now responded to Ronaldo's action, saying "everyone is entitled to their drink preferences based on their tastes and needs". According to reports, Coca-Cola's share prices had dropped by 1.6 percent after Ronaldo's snub, going down from $56.10 earlier to $55.22 on Tuesday. Coca-Cola's brand value also dipped from $242 billion to $238 billion, which is a drop of $4 billion in a single day. Ronaldo's snub of Coca-Cola shouldn't come as surprise as the Portuguese star is known for his extreme fitness regime. Ronaldo is the most popular sportsperson in the world and anything he does is watched carefully by his fans and followers. 

Ronaldo in EURO 2020

As far as the EURO 2020 is concerned, Ronaldo scored two goals to help his side win the game against Hungary on Tuesday. After a rocky start, Portugal struck Hungary three times to beat them 3-0 before the end of the play in the 90th minute. Ronaldo's first goal was a penalty in the 87th minute, while his second strike came as he cut inside from the right of the box taking the ball around the goalkeeper to slot it into the back of an empty goal. 

After the win, Portugal rose to the top of the Group F points table, which also includes top football sides, France and Germany. Portugal will play its next two EURO 2020 games against Germany and France respectively. With his two strikes against Hungary, Ronaldo became the all-time top goal scorer in the history of the tournament. 

(Image Credit: AP)