Maple Leafs name Mike Babcock head coach; deal reportedly worth around $50M over 8 years
The wait is over.
The Toronto Maple Leafs named Mike Babcock their 30th coach in team history Wednesday after the two sides agreed to an 8-year contract worth around $50 million, according to TSN's Darren Dreger.
Front-loaded deal...high salary in first two years
— Elliotte Friedman (@FriedgeHNIC) May 20, 2015
The deal comes after a crazy morning that reportedly saw a bidding war break out between the Buffalo Sabres and Maple Leafs, after multiple teams dropped out of the Babcock sweepstakes.
Related: Babcock to Toronto nothing but a win for the Leafs
The deal makes Babcock far and alone the highest-paid coach in the NHL, a title previously held by Chicago Blackhawks coach Joel Quenneville, who makes $2.95 million per season.
TSN's Bob McKenzie tweeted that Babcock may earn as much as $8 million per season in the first three years of the deal, and added that there is no out clause in the contract, as was speculated in the moments after the deal was announced.
With the Maple Leafs signing Babcock, the team will also be forced to give up a third-round pick in the NHL draft to the Red Wings within the next three years.
The Maple Leafs will introduce Babcock at an 11 a.m. ET press conference Thursday.