Ronaldinho lost his $750,000-a-year endorsement deal with Coca-Cola after he was seen sipping a Pepsi at a press conference hosted by Atletico Mineiro, the club he joined last month.

"Coca Cola recognizes the career and the value of Ronaldinho," Coca-Cola said in a statement. "However due to recent developments it has become impossible to continue the partnership."

Ronaldinho quit Flamengo on May 31 after suing the team for unpaid wages and bonuses. The five-time league champion filed a counter-suit.

"That [sipping the Pepsi] was the last straw for the company but I don't think it was the only reason," a marketing manager said. "He didn't perform up to expectations and his name was associated more with negative than positive news."