This is the last of my three-part series on Coca-Cola (read the previous parts here and here), and boy, am I thirsty for more or what?

During a Euro 2020 press conference last week, there were two Coca-Cola bottles and one water bottle on the table where soccer superstar Cristiano Ronaldo was talking to the media.

Suddenly and shockingly, Ronaldo moved the Coca-Cola bottles away and held up a water bottle to clearly show water as his beverage of choice.

Interestingly, Coca-Cola is a sponsor of Euro 2020 and Ronaldo doesn’t have any sponsorships with any of its rivals.

While the shunning of Coca-Cola was stunning, NFL legend Tom Brady took to Twitter to support Ronaldo’s actions.

Sports and soda have a great relationship and Coca-Cola is always present during football and soccer games.

But Ronaldo’s gesture shook more than the Coca-Cola bottles. Within hours, the brand’s share prices dropped by 1.6% and its market value fell by a whopping $4 billion! 

The world of a stadium was waiting with bated breath (and one that smelled of Coke).

But Coca-Cola’s response – “everyone is entitled to their drink preferences” as people have different “tastes and needs” – fizzled feebly.