Evidence of meeting #73 for Canadian Heritage in the 44th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was soccer.
A video is available from Parliament.
NDP
Peter Julian NDP New Westminster—Burnaby, BC
Thank you very much, Madam Chair.
I've been disappointed with the answers today. I want to go back to Mr. Heffernan and ask him, as chief financial officer, what evaluation he did around the issue of the contract with Canadian Soccer Business to estimate the value of the rights that were being accorded to CSB. Were their financial figures studied by the board? Did they include projections of the rise in value of those rights over time and over the period of the contract?
Chief Financial Officer, Canada Soccer
The analysis I did when the board evaluated the terms of the contract forecasted in comparison to what our current sponsorships were at the time. The guarantee was higher than what we were currently receiving.
As to the long-term forecast, it's really a trend line, because it doesn't take in the actions.
As to the increase in valuation, that exceeds my expertise, as I am not a certified business valuator on anticipating future growth.
NDP
Peter Julian NDP New Westminster—Burnaby, BC
Okay. I would like to ask, through you, Madam Chair, that Canada Soccer make that evaluation available to us.
I will say this. Across the country, we have parents who are providing money that goes through to Canada Soccer. We have not seen transparency. The words that Christine Sinclair spoke before this committee on March 9, I think, ring true: “Canada Soccer’s approach [on finances] has reflected a culture of secrecy and obstruction.”
I think it's fair to say that this is a problem in terms of the finances and the lack of answers we've had today. There's also a concern around the allegations of sexual abuse and how Canada Soccer treats these issues.
I hope we are now going to pursue our intention to get to the bottom of things...
NDP
Peter Julian NDP New Westminster—Burnaby, BC
... and that we will be getting the information that Canadians need. There has to be transparency and, honestly, I think transparency is lacking today.
Chief Financial Officer, Canada Soccer
Madam Chair, could I just correct a point on the premise?
Chief Financial Officer, Canada Soccer
He referred to it as an evaluation. It's a trend line.
NDP
Peter Julian NDP New Westminster—Burnaby, BC
I would still like the committee to receive the information the chief financial officer has just revealed to us.
Liberal
Liberal
The Chair Liberal Hedy Fry
The speaking is now done if we are to follow through what everyone agreed to, as Mr. Waugh suggested. It's going to take some time to go in—
Liberal
The Chair Liberal Hedy Fry
It takes time to go in camera. I'm sorry, no, the time is up, or we will not finish what we're supposed to do and what the agenda for the day says.
I shall thank the witnesses once more. I shall ask that the trend line be sent to the clerk as promised.
I want to thank the witnesses for coming.
With that, I will suspend so we can go in camera.
Thank you.
[Proceedings continue in camera]
