Toronto, ON (SportsNetwork.com) - Mike Babcock is leaving the Detroit Red Wings to become the Toronto Maple Leafs' head coach.

The Maple Leafs confirmed the hiring on Wednesday afternoon.

TSN reported that the Babcock, who had been talking with several teams, agreed to an eight-year contract worth close to $50 million.

Babcock heads to Toronto after coaching Detroit for the last 10 seasons. He guided the Red Wings to the 2008 Stanley Cup title and led them back to the Cup Finals the following year.

The 52-year-old is Detroit's all-time leader in regular-season coaching wins after compiling a 458-223-105 record during his lengthy stint. He ranks second in team history with 67 playoff wins.

Prior to joining the Red Wings, Babcock coached the Mighty Ducks of Anaheim for two years (2002-04). He led the club to within one win of a Stanley Cup title in his first season.

In addition to his NHL work, Babcock has guided Canada to success in international play. He is the only coach in history to earn consecutive gold medals at the Olympics with Canada's wins at Vancouver in 2010 and Sochi in 2014.