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It's a rejection of an entity that is not sponsoring him.

These are 'businessmen athletes' who are intimately familiar with issues around sponsorship.

He's also a health nut. Someone that cares enough about their health to do something about it probably wouldn't drink carbonated sugar water.

I think that's fair. But he still knows what he is doing.

If he were sponsored by a Coke 'sub brand' (i.e. water or healthy drink) ... he would have done it more gracefully for sure.