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So, it’s in the Leafs’ best interest to have Babcock back in the workforce as soon as possible, earning as much as possible to mitigate their losses.
Any income Babcock earns from now on — be it in coaching, consulting, media, working for Hockey Canada, whatever — is subtracted from what the Leafs owe him, but Toronto must make him whole.
Now, Babcock can’t simply ski and hunt his days away and watch the money pile up. The onus is on him to at least try to find employment.
“You can’t just sit back on the couch and collect,” Glasberg explains. But: “He could say, ‘I spoke to three general managers, and there are no openings, and I’m not going to accept a lesser job, so I’m going to accept a lateral or progressive job, and those jobs don’t come available very often.’ ”
When a head job does open up, a delicate negotiation begins. Say, purely for example, a team like Vancouver or Calgary comes knocking. If they low-ball Kyle Dubas and offer to pay Babcock $2.5 million, Dubas could hang up the phone or get the league involved. Glasberg has seen that happen before.
Glasberg says the next club to hire Babcock must pay “a market-representative salary,” and — even though his reputation has just taken a hit — Babcock’s closest comparables would be Claude Julien and Todd McLellan, each of whom earns about $5 million.