pay a fixed annual rental fee of $865,000 to the City for the upgraded stadium, rather than the variable revenue sharing model under the present agreement which returned an average of $397,000 to the city over the previous five years, to help ensure that the city recoups its investment. The new arrangement guaranteed the city $25.4 million, and with the projected $6 million in parking revenues the $31 million in revenue over the term of the lease would be $19 million more than under the former agreement. As manager of the stadium, MLSE gets any profit turned by the stadium, and is responsible for any losses. MLSE's management and naming rights agreement for the stadium, which was set to expire in 2027, were extended by 10 years under the proposal. The agreement requires MLSE to reach a "long-term use (i.e. 20 years)" lease with the Argos for usage of the stadium starting in 2015. The proposed renovations were unanimously approved by the Board of Governors of Exhibition Place on March 7, and the City of Toronto's Executive Committee gave their consent on March 19. The full City Council approved the deal on April 3, and the agreement is planned to be finalized by June 15. The Provincial Minister of Tourism and Culture Michael Chan said that MLSE has submitted a funding request and that "we are looking at it", while the Federal Infrastructure Minister Denis Lebel's spokesperson said that "the federal government has no program to fund professional sports facilities". A spokesperson for Lebel would later say "our government will not fund the BMO Field as long as it is used by a professional sports team". However, according to Leiweke, the federal funding "is not going to the stadium, their money is going to host big events." In another interview he said "the feds are giving us the resources to (temporarily) expand to 40,000 for our Grey Cup bids and Winter Classic bids". By late May 2014, MLSE had not reached a financing agreement with either the federal or provincial governments to fill the $20 million funding gap. The fall of the government of Ontario, with an election scheduled for June 12, prevented them from approving their share of the funding. With deadlines approaching to start construction to ensure that the stadium was ready for the 2015 Pan-Am games, MLSE decided to move forward with the first phase of the