At a recent press conference at the Euro 2020, iconic footballer and Portugal Captain Cristiano Ronaldo shifted two bottles of Coco-Cola away from him. Following this, he held up a bottle of water and simply declared "Agua(water)!" That snub, which took around 10 seconds or so, cost the global beverage giant $ 4 billion in market value according to the Guardian newspaper. This is, of course, a testament to how central perception is in the current economic order. Cristiano Ronaldo is an icon of the sport whose popularity goes far beyond the sport he is revered in. And the gesture itself was powerful, not overdone like he was trying to prove something but just enough to show what he felt about Coco-Cola and carbonated soft drinks in general. While one can appreciate that Ronaldo, a fitness aficionado, was making a simple lifestyle statement, it should also be noted that Coco-Cola had every right to have its bottles on the table. It is, after all, one of the official sponsors of Euro 2020 and having a few bottles on the table at the press conference is part of the deal. While a Euro 2020 spokesperson was quick to say that 'everyone is entitled to their choice of beverage', Coco-Cola is not likely to come across quite as understanding, particularly if this becomes a pattern. The association of Coco-Cola and sports is big business after all and old too. The idea is not just to advertise on big visibility events but also how the drink is advertised. If an athlete or athletic event advertises Coco-Cola, then an unconscious perception forms of the fizzy drinks association with sports and fitness. In many ways, this is similar to how cigarette manufacturers in the 1930s in America used to pay doctors to push smoking and cigarettes, sometimes even to pregnant women. Coco-Cola has also apparently enjoyed success as a sports drink substitute in certain sports such as high-intensity cycling where many turn to the caffeinated beverage as a means to rehydrate and re-energise. Whether it actually a good energy drink or even a water substitute for exercise is an entirely separate debate. The point is that this is nothing new. Indeed, as many have since pointed out, Ronaldo has previously done advertisements where he is straightforwardly advertising Coco-Cola. So what is this? Was Ronaldo simply having a moment of hypocrisy when he decided to snub Coco-Cola? Maybe but the larger fact is that this is also a product of the times. In recent decades, as health concerns over excessive the cost of our lifestyles and our diet have become more widespread, consumers have started to take note. In recent years, beverage giants, Coco-Cola among them, have been sued for misleading consumers on the health risks of their drinks. In particular, Coca-Cola was highlighted as having started a campaign to get people to see it as part of a healthy diet. Once again, doctors were apparently used to push the idea that the health risks from Coco-Cola actually come from a lack of exercise and that Coco-Cola could be used to supplement a healthy life. But all this has achieved is making these big manufacturers more careful about what they advertise, for the time being. Coco-Cola has not really become healthier despite what one may think of its diet and sugar-free versions. It hasn't really stopped pushing the health perception as well by linking it with sports. Indeed, most experts think that Cristiano Ronaldo's recent snub is also likely to do absolutely nothing to the company in the long term. For every hundred people who are inspired to turn away from Coke, a thousand will be ready to reach out for the fizzy drink. Still, there is a slight chance that this could become a bigger movement with more athletes joining in. Italian footballer Manuel Locatelli was caught doing the same thing at his press conference following Italy's 3-0 victory over Switzerland. Coco-Cola aside, French football star Paul Pogba did the same with a few bottles of Heineken at his post-match conference though it should be noted that Pogba may have had a religious reason to remove the drink rather than any statement of health. All the same, to head off what it may see as a concerning pattern, European football's governing body UEFA reminded participating teams that sponsorships are 'integral to the delivery of the tournament' and for ensuring the development of football. UEFA did emphasise that if the bottles had been removed for religious reasons, then it was acceptable. In other cases, UEFA was not ruling out the possibility of punishments if there are further such instances.