The Toronto Maple Leafs accomplished what many thought was unthinkable, signing Stanley Cup and Olympic Gold Medal winning head coach Mike Babcock to an eight-year contract for $50 Million.

Until early Wednesday morning, the indications were that the 52-year-old head coach would be returning to Detroit or heading to the Buffalo Sabres for a deal averaging $5 Million per season, but Maple Leafs Team President Brendan Shanahan was successful in using the financial might of MLSE to his advantage, increasing the bid for arguably the NHL's top coach to an average of $6.25 Million per season.

The Toronto Maple #Leafs have named Mike Babcock the 30th head coach in club history. #TMLtalk pic.twitter.com/oEAqTs0VEI

— Toronto Maple Leafs (@MapleLeafs) May 20, 2015

TSN's Bob McKenzie reports that the deal is front-loaded and will pay Babcock $8 Million the first three seasons, while Sportsnet's Elliotte Friedman indicates that the new Leafs bench boss will have a say in personnel decisions along with Shanahan and that he has an out clause in his contract after five seasons.

Babcock's input on personnel decisions could have an effect on the Leafs potential hire of a general manager and could increase the possibility of current Director of Player Personnel Mark Hunter assuming that title.

Babcock reached out to the Leafs after speaking with Mark Hunter early this week. Sounds like Hunter was key in this decision.

— Darren Dreger (@DarrenDreger) May 20, 2015

The Leafs also flew in former Tampa head coach Guy Boucher from Switzerland on Tuesday for a second interview for the head coaching position and may be in consideration for an assistant coaching position now that Babcock has been hired.

Another potential option could be former Jack Adams Trophy winner Paul MacLean, who was a Ducks and Wings assistant under Babcock.

The Maple Leafs will hold a press conference at 11am on Thursday to formally introduce their 30th head coach.

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