Cristiano Ronaldo could be eyeing a Pepsi sponsorship deal or maybe even an Evian water commercial after a simple gesture from the soccer superstar had a direct impact on the stock market.
By just moving away the coke bottles that were set up on the stand in a press conference at the European Championships Ronaldo caused Coca-Cola to lose 4 billion dollars in market value in hours! The gesture has sparked heavy debates on both sides of the aisle. One thing that is undeniable is that Ronaldo is a true influencer!
For the folks that are not too familiar with how press events are conducted at major soccer tournaments here’s a quick brief. In most major events top players for teams or countries hold press conferences before and after matches to talk about what happened on the field or an upcoming game.
Sponsors for the event take this opportunity to put their brand out in front of fans. It’s not uncommon for brands like Coke to put a couple of bottles of their drink beside the microphone that the players talk into. That was exactly the case this time around. Cristiano Ronaldo proceeded to take the bottles removed them from the desk and said “drink water” into the microphone.
After the simple gesture the Coca-Cola stock price, which by the way had been on a good run, plummeted. The value of the stock went from $56.17 to $55.22. That represented a 1.6% drop in the stock price in a matter of hours. Today the stock price dropped 0.6% as well! That’s not normal by any means for regular stock prices.
Needless to say, the folks at Coke were not happy. A spokesperson on behalf of the tournament said on the matter, “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.”
The Ronaldo gesture not only had an impact on the stock market. It also prompted memes to pop up and get other athletes to weigh in on the situation. Tom Brady for example tweeted a picture of the event while saying, “It’s almost like veterans know what they are doing”.
What could be more concerning to the tournament organizers are the Ronaldo copycats. French player Paul Pogba today removed a bottle of Heineken beer that was set up at his press conference. In another jab at one of the tournament’s main sponsors.
— Tom Brady (@TomBrady) June 14, 2021
So far there has been no word from neither Coca-Cola nor Heineken regarding the incident. As two of the main sponsors of the event, it’s clear much of the prize money that the players will get for playing in the event comes from them.
Although at this point the brands have not hinted at pulling out as title sponsors if players continue to push their agendas this could be the case. Everyone is entitled to their own opinion. Having an opinion can have consequences, and that’s something some of these players may miss at times!
— Heineken (@Heineken) June 15, 2021