ARLINGTON, Texas — Cristiano Ronaldo’s storied World Cup journey concluded in heartbreak on Monday as Spain eliminated Portugal with a dramatic stoppage-time goal in the round of 16 at Dallas Stadium.

Mikel Merino, a substitute, scored in the first minute of added time to secure a 1-0 victory for Spain, sending the European champions into the quarterfinals and bringing down the curtain on Ronaldo’s sixth and final World Cup appearance. The 41-year-old Portuguese superstar walked off the pitch with a stoic expression, acknowledging fans with a brief wave amid the disappointment of another early exit for his nation.

In the mixed zone after the match, Ronaldo reflected on the defeat with measured composure. “I’m sad to be leaving the World Cup like this,” he said. “I gave it my all. I did my best and I’m leaving with a clear conscience. It was my last World Cup, yes, but I’ll now have time to reflect and be with my family. I won’t be making any rash decisions.”

He emphasized that Spain had enjoyed “a bit of luck” on Merino’s winner, describing a tightly contested match that “could have gone either way.” Ronaldo declined to confirm whether the game marked his final appearance in a Portugal shirt, preferring not to overshadow the team’s efforts with a personal announcement made “in the heat of the moment.”

The loss also coincided with the end of Roberto Martinez’s tenure as Portugal manager. Ronaldo offered praise for the Spaniard, calling him “a great manager, a great human being” and commending his contributions to the national team.

Portugal entered the tournament with high expectations, bolstered by Ronaldo’s leadership and a squad featuring a blend of veterans and emerging talents. The five-time Ballon d’Or winner had spoken beforehand about this being his last World Cup, a declaration that added emotional weight to every moment on the field. Despite Portugal’s strong group stage showing, the knockout clash against their Iberian rivals proved one step too far.

Ronaldo’s international legacy with Portugal remains secure. He helped the Selecao win the 2016 European Championship — their first major trophy — followed by Nations League titles in 2019 and 2025. “I’ve won three titles for Portugal; before Cristiano Ronaldo, Portugal hadn’t won a single title,” he noted proudly. He equated the significance of the 2016 Euros triumph to a World Cup.

The match itself was a tense, tactical battle befitting two of Europe’s football powerhouses. Spain controlled much of the possession and created several threatening moments, but Portugal’s defense, marshaled effectively in the absence of key absences, held firm for long stretches. Ronaldo himself was denied a potential goal in the first half by a stunning save from Spain goalkeeper Unai Simon.

As the game wore on, fatigue appeared to set in for both sides. Spain’s bench ultimately made the difference. Ferran Torres provided the assist for Merino’s late header or close-range finish — accounts vary slightly on the exact execution — in a moment that stunned the Portuguese contingent. The goal silenced large sections of the crowd that had been roaring in support of Ronaldo and his teammates throughout.

For Ronaldo, the evening represented the end of a remarkable chapter that began with his World Cup debut in 2006. Over six tournaments, he established himself as one of the competition’s greatest performers, though the elusive World Cup title always remained just out of reach. His longevity at the elite level is unparalleled; at 41, he continues to compete at the highest level with Al-Nassr in Saudi Arabia while carrying the weight of national expectations.

Portugal’s campaign was not without bright spots. The team demonstrated resilience and moments of quality that suggested a promising future. Younger players gained valuable experience on the grandest stage, potentially paving the way for a new era once Ronaldo’s international future is clarified. Manager Martinez’s departure opens the door for fresh leadership as Portugal rebuilds.

In the broader context of the 2026 World Cup, hosted across the United States, Canada and Mexico, the match highlighted the intense competition in a stacked European field. Spain, seeking to add to their 2010 triumph, advanced with a disciplined performance emblematic of their current style under their coaching staff. Their quarterfinal opponent will await, while Portugal must now shift focus to recovery and the next cycle of qualifiers.

Ronaldo’s post-match comments struck a tone of acceptance mixed with pride. “It’s always sad to be knocked out of a major tournament. It’s a World Cup. The team was really coming into its own. We played well, in my view,” he said. “It’s frustrating to go out like this, but we can hold our heads high.”

The football world reacted swiftly to the result. Tributes poured in for Ronaldo’s career, acknowledging his unmatched dedication, goal-scoring records, and influence on the sport. Fans in Arlington and back home in Portugal expressed a mixture of sorrow and gratitude for the memories he provided across two decades.

As the tournament progresses without Portugal, questions linger about Ronaldo’s next steps. Will he continue with the national team for upcoming European qualifiers or Nations League campaigns? Or has Monday’s match marked the final page of his international story? True to his words, those decisions can wait. For now, the focus remains on a career that transcended borders and inspired generations.

Spain’s victory sets up intriguing possibilities in the knockout stages. With talents like Lamine Yamal shining and a solid squad depth, they present a formidable challenge for any remaining contenders. The Iberian derby, long anticipated, delivered drama until the final whistle, living up to its billing despite the narrow margin.

For Portuguese supporters, the pain of elimination is tempered by the knowledge that their icon departed with dignity and a clear conscience. Ronaldo’s contribution to Portugal’s football identity is indelible. From the streets of Madeira to the world’s grandest stadiums, his journey has been one of relentless pursuit of excellence.

As night fell over Dallas Stadium, the echoes of chants for Ronaldo likely lingered. The 2026 World Cup continues, but one of its defining figures has taken his final bow on this particular stage. The sport moves forward, as Ronaldo himself acknowledged, but his shadow will loom large over future tournaments for years to come.

The two-wheeler major launched its share buyback on July 1 as it aimed to buyback 46.94 lakh shares or 1.68% of the total paid-up share capital, with the record date being fixed on June 24.

Key things to know about Bajaj Auto’s buyback

Under Bajaj Auto’s buyback offer, eligible shareholders (those who held the shares as on the record date) in the reserved category for small shareholders are entitled to tender 17 equity shares for every 61 equity shares held as on the record date (June 24). For shareholders in the general category, the buyback entitlement is fixed at 17 equity shares for every 525 equity shares held on the record date.

A buyback of shares refers to a corporate action where a company repurchases its own shares from existing shareholders. Usually, the company purchases the shares at a higher price than current levels, encouraging investors to participate. Notably, Bajaj Auto has said that its promoters and promoter groups have indicated their intention not to participate in the buyback.

Eligible Bajaj Auto shareholders can participate in the offer by placing a bid through a stock broker registered with either the BSE or the NSE via a separate window on the stock exchanges. The registrar will complete the verification of tendered shares by July 10, 2026. Thereafter, the final acceptance or rejection of shares tendered under the buyback will be communicated to the stock exchanges by July 13.

After the buyback, Bajaj Auto will return the unaccepted shares by July 14, as per the schedule shared by the two wheeler maker in its exchange filing. “The Buyback reinforces the Company’s commitment to its shareholders by returning surplus cash to them in an effective and efficient manner, and is expected to improve its earnings per share and return on equity,” it added.

Also read: Bajaj Auto buyback opens July 1; shareholders can tender shares till July 7

How much profit can you make from Bajaj Auto’s buyback?

For example, let’s take an investor who bought 20 shares of Bajaj Auto at 9,750 apiece before the record date and is planning to tender shares in the buyback. The total value of her shareholding in the two-wheeler major as of the record date stood at Rs 1,95,000, making her eligible for Bajaj Auto’s reserved category for small shareholders (less than Rs 2 lakh).

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As per the entitlement ratio, she is entitled to tender around 6 shares out of her 20 stock holding (nearly 27.9%). It is important to note that not all shares she tenders may be accepted in the buyback process.
Each accepted share would fetch ₹12,000, resulting in a profit of ₹2,250 per share over the assumed purchase price.Also read: Bajaj Auto’s Rs 5,633 crore share buyback | Key things to know

Should you participate in Bajaj Auto’s buyback?

All shareholders who held Bajaj Auto shares in their demat accounts as of the record date (June 24) will be eligible to tender shares in the buyback. Sunny Agrawal, Head of Fundamental Research at SBI Securities, explained that the entitlement ratio for small shareholders stands at 27.9% (17 shares for every 61 shares held) with the record date price of Rs 9,750 apiece.

“Assuming an acceptance ratio between 45% and 65%, a small shareholder is likely to get a return of 9.5% to 14.9% on his total holding. The return potential can be higher if the acceptance ratio is higher or the stock appreciates above Rs 9,750,” he said, advising investors to participate in the buyback.

Harshal Dasani, Business Head at INVasset PMS, also said that the reserved-category mechanics make participation a worthwhile arithmetic exercise even on a post-tax basis for retail shareholders already holding the stock. “Retail shareholders (holdings up to Rs 2 lakh value) sit in a reserved 15% pool of 7.04 lakh shares worth Rs 845 crore, and historically Bajaj Auto’s 2024 buyback delivered final retail acceptance ratios near 26%. If a similar acceptance pattern holds, a retail shareholder tendering all eligible shares can expect roughly 25-26% of holdings to be accepted at the Rs 12,000 price, with the residual returning at market price,” he said.

Vaqarjaved Khan, Senior Analyst of Fundamental at Angel One, meanwhile highlighted that with only 1.68% of equity being repurchased, the theoretical entitlement ratio works out to just 4.5–5%.

“That means most retail shareholders will see only a small slice of their tendered shares accepted, with the rest sold back at prevailing market price. The effective blended gain is far lower than the headline premium implies. Still, tendering costs nothing and any acceptance is pure upside so shareholders should tender their full entitlement regardless of the ratio,” he added.

Also read: Bajaj Auto total sales increase 28% in June

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

A new survey suggests the majority of gamers remain deeply attached to physical game discs, even as both PlayStation and Xbox move decisively toward all-digital futures for their next generation of releases.

According to a reader poll conducted by Windows Central, 71 percent of the 1,577 respondents said they will miss buying physical games, while only 13 percent said they were happy to embrace a fully digital future. The remaining respondents expressed more neutral or mixed views on the shift. The results reflect a wave of consumer pushback that has followed Sony’s announcement earlier this month that it will end production of physical game discs for new PlayStation titles starting in January 2028.

Sony confirmed the change in a post on the PlayStation Blog, stating that physical game disc production for all new games releasing on PlayStation consoles will be discontinued starting in January 2028, after which new titles will be available only through the PlayStation Store or at retailers in digital format. The company framed the decision as a response to shifting consumer habits, writing that the move represents “a natural direction for Sony Interactive Entertainment to adapt to consumer trends as the general preference for digital media significantly outpaces physical discs.” Sony added that the shift is intended to align the company more closely with how most of its player base already accesses and plays games.

The announcement does not affect games that have already been released, or that will be released, on disc prior to the January 2028 cutoff. Existing physical libraries and previously purchased titles will remain playable, according to Sony’s statement. The company also disclosed plans to shut down the PlayStation Store on the PlayStation 3 in select markets later this year, with global closures of the PS3 and PlayStation Vita digital stores expected to follow in the coming year, a move that will prevent players from purchasing new digital content on those older systems going forward.

Industry data cited alongside the announcement suggests the shift toward digital purchasing has been underway for some time. Sony has reported to investors in recent years that a growing share of PlayStation game purchases are made digitally rather than on disc, with recent figures indicating that nearly four out of five full-game purchases on PlayStation 4 and PlayStation 5 over the past year were made digitally. Some industry estimates have placed that figure as high as 80 to 85 percent of total game sales.

The timing of Sony’s announcement drew additional attention because it came just days after Rockstar Games, the studio behind the long-awaited title “Grand Theft Auto 6,” confirmed that its physical retail edition would include only a digital download code inside the box rather than an actual game disc. That decision had already frustrated a segment of players who continue to place value on collecting physical editions of major game releases, and it appeared to foreshadow the broader industry shift Sony would formalize shortly afterward.

Xbox has signaled a similar trajectory, though it has not yet made as sweeping a public announcement as Sony’s. Reports from The Verge indicate that employees within Microsoft’s gaming division have begun testing a new disc-to-digital feature, known internally as Xbox Positron, that would allow players to digitize existing physical game collections for the Xbox One and Xbox Series X and S consoles. Additional reporting has suggested that Microsoft’s next-generation console effort, referred to as Project Helix, is also expected to drop a physical disc drive entirely, mirroring the direction Sony has now made official.

Reaction to Sony’s announcement has been largely critical among longtime gaming communities and industry commentators. Writing for Forbes, contributor Paul Tassi described the move as inevitable from an industry-trend standpoint, but argued it does little to benefit consumers, since it eliminates the option to purchase games physically altogether. Tassi also connected the decision to broader concerns about digital ownership, noting that Sony itself has previously removed previously purchased movies from its platforms due to licensing disputes, a pattern he said illustrates the risks associated with fully digital game libraries. He further raised concerns about the implications for game preservation efforts, which have historically relied heavily on physical copies to keep older titles accessible and playable over time.

Community response to the Windows Central poll echoed many of these same concerns. Readers who responded pointed to the loss of resale value, the inability to lend or gift physical copies to friends, and skepticism about whether eliminating discs would result in any meaningful cost savings passed on to consumers. Some commenters described the shift as part of a broader pattern across industries, comparing it to earlier transitions away from physical ownership in the music and film sectors. Notably, physical media has not disappeared everywhere: vinyl record sales have continued to grow in recent years, surpassing $1 billion in annual sales for the first time since 1983, according to industry figures, even as digital streaming has dominated the broader music business.

The broader home entertainment industry has followed a similar arc in recent years. Netflix wound down its DVD-by-mail rental business in 2023, marking the end of another major physical media distribution model. Sony’s decision to phase out PlayStation discs follows that same general trajectory, though the scale of the shift is notable given that PlayStation itself played a foundational role in popularizing the disc format for home gaming consoles following its debut in 1994.

The announcement has also raised questions about what the shift might mean for future PlayStation hardware, including the next-generation PlayStation console, which some industry observers do not expect to arrive for several more years. Whether that future console will include a disc drive at all remains unclear, though Sony’s current guidance suggests physical media support for new titles will effectively end well before any next-generation hardware reaches the market.

For now, players hoping to continue purchasing physical copies of new games have a window of roughly a year and a half before Sony’s cutoff takes effect in January 2028. Whatever changes follow on the Xbox side, the survey results suggest that a clear majority of gamers remain unconvinced that a fully digital future represents an improvement over the physical ownership model that has defined console gaming for more than three decades.