A look at the growing importance of athletic symbols in advertising and brand values in the midst of ‘Bottlegate’ at Euro 2020.


Cristiano Ronaldo’s credibility is being questioned after he openly refused to support Coca-Cola at Euro 2020, a brand he has previously sponsored.

Ronaldo was speaking to the media after Portugal’s 3-0 triumph over Hungary, in which he scored twice and set a few European records in the process. When he arrived at the press conference, Ronaldo placed two Coca-Cola bottles out of camera view before holding up a bottle of water and saying “Agua,” indicating that his beverage choice was in accordance with his well-documented health devotion.

Ronaldo’s actions triggered a chain of events at Euro 2020

The result was a magnificent chain reaction that shook the football world as well as the stock market. Coca-stock Cola’s dropped 1.6 percent almost immediately after the Portuguese’s rejection. As a result of Ronaldo’s actions, the club’s market value dropped from $242 billion to $238 billion, a $4 billion reduction. This became a trend, with additional players jumping on the bandwagon and following in Ronaldo’s footsteps.

At his own press appearance, Paul Pogba, a devout Muslim, removed bottles of Heineken mere hours after Ronaldo. Surprisingly, the beer is advertised as having a 0.0 percent alcohol content.

Meanwhile, Manuel Locatelli was observed changing his coke with water in a similar gesture to Ronaldo’s after Italy’s 3-0 win over Switzerland in their Euro 2020 group stage match.

These occurrences prompted the UEFA to remind the 24 teams competing in Euro 2020, as well as their players, of the various sponsors’ contributions to European soccer. If players continue to follow in Ronaldo’s footsteps, the governing body has threatened them with consequences.

Martin Kallen, the director of the Euro 2020 event, claimed the UEFA had “communicated with the teams on this matter.”

In a news conference, Kallen stated, “It is significant because the sponsors’ profits are important for the tournament and for European football.”

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