Thank you very much.
I'm going to continue on Rachel's line of questioning.
On this deal, Mr. Bontis, you stated that there was an opportunity to renegotiate the base amount, which is essentially a guaranteed amount, but it can't increase. It's basically that despite the men's team qualifying for the World Cup and the women's team winning the Olympics, you get no bump in the amounts that you negotiated for the first 10 years. Then, in the second 10 years, if you don't agree on an amount with CSB, there's a fixed amount that's in the contract that's barely an escalation from what was in the first 10 years.
This is opposed to in the United States, where they had a similar deal, and it went up to $30 million at the end. Here, you have almost no escalation. What Rachel said is actually the case. It's an unbelievable deal. We cannot understand how anybody could sign an agreement that fixes pricing for 20 years, no matter how well the soccer teams do.
Let me ask a different question, if it's okay, Mr. Bontis.
I understand that you didn't sign the deal. Mr. Reed signed the deal. At the last meeting, I had a number of questions about when this agreement was approved.
The representatives of Canada Soccer told us that it was approved in March 2018. I pointed them to a board meeting in December 2018 where it was clear that the deal had not been approved because the board had revisited...the deal was being renegotiated and the board had lots of things and mandates to get to the negotiating committee. They said, well, there was a conference call that happened later in December that wasn't minuted. Then the agreement was signed as of January 1.
Mr. Bontis, do you remember on what date Mr. Reed signed the agreement?