Mike Babcock's firing by the Toronto Maple Leafs will continue to dominate the hockey media narrative for a while, but the lingering impact won't be in the headlines.
It'll be in Babcock's bank account.
The 56-year-old joined the Maple Leafs in 2015, signing the richest contract for a head coach in NHL history. That deal still has a substantial term remaining, meaning Babcock will be getting paid handsomely while not doing anything.
We should all be so lucky.
Mike Babcock has been relieved of his duties as the head coach of the Toronto Maple #Leafs
— CapFriendly (@CapFriendly) November 20, 2019
At the time of firing there were still 3 years remaining on his 8 year, $50M contract
His total time with the #Leafs clocked in at 4 years and 6 monthshttps://t.co/rGdABmKVsQ pic.twitter.com/Ze52vo3x9Q
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But just how much are the Leafs still on the hook for? Sporting News breaks down the numbers below.
What were the terms of Mike Babcock's contract with the Toronto Maple Leafs?
When Babcock joined the Maple Leafs on May 20, 2015, he put his signature on what is still the single biggest financial commitment for an NHL head coach. The eight-year deal, worth $50 million total, is almost double the second-best overall compensation package for a bench boss — Joel Quenneville's current five-year, $26.25 million contract with the Florida Panthers pales in comparison.
How much did Mike Babcock earn with the Toronto Maple Leafs this season?
We know that Babcock's annual salary was $6.25 million (according to CapFriendly.com), so if we divide that by 82 regular-season games it means the coach was pulling in $76,219.51 per game.
Babcock was terminated by the Leafs 23 games into the current campaign, earning him a cool $1,753,048.78 between opening day and Wednesday.
How much do the Toronto Maple Leafs owe Mike Babcock?
Using the per-game payout calculated above, we can surmise that Babcock is still owed nearly $4.5 million ($4,496,951.22, to be exact) for the remainder of this season.
As discussed last night on Insider Trading, Leafs still owe Mike Babcock for three and a half years at a $5.875M US salary. His deal wasn’t as front loaded as some thought. He had a $3M signing bonus then $5.875M salary every year evenly through 2022-23.
— Pierre LeBrun (@PierreVLeBrun) November 22, 2019
His contract with the Leafs was set to last through the following three seasons as well, so if we add the $4.5 million from the rest of the current campaign to the $17.625 million he's due for 2020-21 through 2022-23, we come up with a grand total of $22.125 million.
That's a lot of dough.