Coca-Cola reportedly lost $4bn in market value, allegedly due to the drink-shifting incident carried out by Cristiano Ronaldo and his related comment at a press conference in Budapest. Other players like Pogba and Locatelli followed suit in snubbing UEFA Euro 2020 sponsors, with Coca-Cola and Heineken making the headlines again.We know, these companies spend staggering amounts to have their products in strategic positions. That’s why we took our eyes off of the football matches to pay attention to the money spenders: The official Euro 2020 sponsors.
After Ronaldo, Pogba and Locatelli’s incidents, UEFA reportedly told players to shy away from such behavior. The truth is, football is a big business. And the UEFA Euro 2020 is the major event for national football teams in the whole of Europe. To say that the figures that go into preparations for an event of such magnitude, is evidently huge, would be an understatement. Therefore, players removing the drinks of big brands that jointly finance this competition is one situation UEFA would want to avoid.
The Money Spenders
Commercially speaking, major companies around the globe put nothing but money on the line to see that the championship is successfully executed, and in return they get seen on every licensed Euro platform around world, for as long as the tournament runs. Other financial benefits are in contracts signed, by the companies and the governing body for the tournament.
UEFA hardly discloses the amount spent by an individual sponsor, but as of 2016, official sponsors alongside global broadcasters and licensing helped finance the tournament, which generated almost US$2.4bn. This marked an increase by 34 percent when compared to the previous edition 4 years ago. UEFA reported that $576m came from sponsorship deals including 10 partners at the Euro 2016, in France.
Players also benefit from UEFA Euro advertisements, through their various national federations and clubs; $442m out of revenue is shared amongst 24 national federations in the competition. This also goes towards paying player bonuses. The Champions are also awarded the sum of $40.6m from UEFA for winning three of their group games.
Clubs are not left out; different clubs worldwide also get shares from $239m given by UEFA from the Euro 2020 revenue. The money is given to hundreds of listed clubs for allowing their players compete with their national teams. $155m is also allocated to about 630 players taking part in the final tournament. UEFA also gives its 55 member-federations, an annual grant and development project funds for the stipulated period of 2020-2024.
The system is carefully structured so that everyone goes home happy. So when players start removing sponsors drinks from the tables during media briefings, then that is a problem that needs the attention of everyone connected to the tournament. The partners, national team sponsors, broadcasters and licensees, all contribute their quota to the revenue stream of the competition. Brands go into sport deals like this to make more money, and losing $4bn even during the competition does not sit right with any sponsor.
The Euro 2020 Official Sponsors
The companies listed here are not the only sponsors of the competition. Though, they are regarded as the official sponsors of the Euro 2020. Other companies/brands fall under UEFA national team soccer sponsors, tournament broadcast partners, other key/host markets, and other teams sponsors.
1) Coca-Cola : ‘Taste the feeling’
The brand, currently worth $200 billion, has officially been in business with UEFA for 32 years. They are the first official sponsors of the tournament after putting pen to paper to become the official non-alcoholic beverage of the event since September 2019.
2) Tik-Tok: ‘Make every second count’
It shouldn’t be a surprise, seeing a short-form video app as an official sponsor for the Euro 2020. The sport on its own is broadcasted on many platforms. With social media spearheading the rise of digital entertainment Tik-Tok represents the EURO through social media . As of 2021, TikTok has an estimated net worth of $75 billion.
3) Heineken: ‘Enjoy responsibly’
This Dutch brand was also one of the sponsors of the EURO 2016 competition. It is also a major sponsor for other big football events, with the Champions league being a noticeable addition to its credentials, having also obtained exclusive rights at game stadiums, fan zones, and fan villages. This year, as the official beer partner of the event, Heineken also presents the award to the “man of the match” in each game.
4) Just Eat Takeaway.com
For games sake! We all need food. That singular reason led to a plural effect, which is the merger of two food companies. Takeaway.com merged with UK based online food delivery service, Just Eat. Takeaway.com already came on board as official sponsors of the Euro 2020 before the merger with Just Eat.
Takeaway.com’s founder, Jitse Goren, heads the company while the Chairman of Just Eat maintains that position for the new firm to be headquartered in Amsterdam. The two heads have proven to be better than one as they have combined almost perfectly, leading to inclusions in other sponsorship deals by UEFA.
5) Qatar Airways: ‘Going places together’
Fly with Qatar Airways and you might just stumble upon Europe’s Elite players. The airline agreed to become the official carrier for the EURO 2020. The company has a long list of partners, which already includes names like FIFA, Paris Saint Germain, and AS Roma.
6) Vivo: ‘Brave new world’
The sponsorship deal was grabbed by VIVO in 2020, with VIVO being the only company that applied that year. As a result of the deal, VIVO was announced as the official smartphone provider for both Euro 2020 and 2024.
The money spenders in each competition provide part of the event’s budgetary allocation and subsequently add to the revenue. These companies are the official Euro 2020 sponsors for this season.