Mike Babcock to Maple Leafs: Latest Contract Details, Comments, Reaction

Mike Babcock did not waste any time finding another head coaching job after deciding to leave the Detroit Red Wings on Wednesday. The 52-year-old will take over the Toronto Maple Leafs after agreeing to a huge contract.

The Maple Leafs announced the deal Wednesday afternoon:

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Brendan Shanahan, President and Alternate Governor of the Toronto Maple Leafs, announced today that Mike Babcock has been named the 30th head coach in the club’s history. Babcock, 52, joins the Leafs after serving as head coach of the Detroit Red Wings for the past 10 seasons. 

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According to Darren Dreger of TSN, Babcock's deal with the Maple Leafs will pay him around $50 million for the next eight years:

Elliotte Friedman of Hockey Night in Canada provided further details on the contract, noting Babcock may have an out clause after five years:

Chris Johnston of Sportsnet provided details on the compensation the Red Wings receive as a result of the move:

Babcock's journey from Detroit to Toronto came about in the blink of an eye. Dreger reported the Red Wings' last-ditch attempt to bring him back before his deal expired in June was for five years at $4 million per season. 

Kevin Allen of USA Today later reported Babcock was not returning to Detroit, with Buffalo, Toronto, San Jose and St. Louis listed as potential landing spots. The Maple Leafs ultimately won out with a huge offer that includes personnel input. 

As Derek Van Diest of the Edmonton Sun pointed out, as usual, it's mostly about the money: 

Babcock himself commented on the move, saying that it was a "leap of faith," via Chris Johnston of Sportsnet. However, he also called it a "massive, massive challenge," via Johnston.

Despite the challenges ahead, Babcock was confident of his team's ability, saying "there's pain coming," via Stephen Whyno of The Canadian Press.

It's a no-brainer move for Babcock, who had a great run with Detroit that included a Stanley Cup championship in 2008 and Western Conference title in 2009. He led the Red Wings to the playoffs each year as head coach. 

Toronto, on the other hand, is trying to turn around a sinking ship. The Maple Leafs have missed the playoffs each of the last two years and won just 30 games in 2014-15 for a seventh-place finish in the Atlantic Division.