Upon being told by Vince McMahon on September 22, 1997, that the WWF's current financial situation precluded the company from fulfilling his 20-year contract, Hart signed a contract with WCW in October 1997. At the time, Hart was the WWF Champion, and wanted to part ways with the WWF amicably, and had agreed to vacate the title following a farewell speech on the November 10, 1997 broadcast of "Raw Is War" in Ottawa, Ontario, Canada, which would take place one day after the 1997 Survivor Series in Montreal. Although McMahon agreed to the arrangement, he later decided to renege on the deal and have Hart unwittingly lose the title at Survivor Series, to real-life rival Shawn Michaels. The incident, which took place in Hart's home country of Canada, became known as the Montreal Screwjob.