The Pepsi Navy story in context

Were Soviet warships really offered in the Pepsi Navy deal and then refused?

The arrangement nearly happened, but the vessels were intended for scrapping; the dramatic naval headline overstates their practical significance.

The Pepsi Navy story owed more to a striking headline than to the ships' practical value. The proposed Soviet vessels were destined for scrap, so the arrangement would never have given a soft-drink company an operational battle fleet. Calling them warships obscures their condition and intended disposal. This episode shows why hull counts alone say little about the military value of a transfer.