Didn't watch the game but just saw what Regs posted. That's great for the Impact and also for Sebrango getting both. He was a pretty classy guy from what I was told when he was here! By the way love listening to the annoucer on the goals, if only Tom Larscheid did that for the Canuck games! LOL
My understanding was that the Impact wanted a better deal (possibly due to the exchange rate), and Garber rescinded his RFP. The math equates to roughly an extra $10M, assuming Montreal budgeted based on the buck being at par. Anyone in the long haul for this knows- or should have known- we were long overdue for a correction in our exchange, as long term it just isn't feasible.
We do about 60% of our buying in the US. Since the US buck fell to par around Spring 07, we knew it was only a matter of time before it slowly crept back up. Most Canadian industrial experts were guessing at an ideal rate fluctuating between 1.15-1.25...and when I bought yesterday our price was hovering just over 1.25 (1.2560 in the morning, fell back some by end of day).
Point being, everyone who deals regularly in USD knows that a par rate is not sustainable long term, and a correction was bound to occur sooner or later. I very much doubt that a company of Saputo’s status and propensity to evaluate every factor imaginable in their forecasting would fail to overlook this, then let it be a major impediment to the deal when the real impact to their bid is $9-10M.
I'm sure there is a lot more to the withdrawal / rescinding of the invitation to bid than just a change in the exchange rate.