I'll preface this with being uncertain about whether it was Babcock or not, but I recall the media saying that Babcock was looking to set a precedent with coaching salary because he felt coaches were undercompensated.
If I'm remembering right, I can't see Babcock accepting a buyout of less than he's owed for those 4 remaining seasons that he's under contract.
That management better be sure they're making the right decision if they choose to fire him though. The media is trashing Babcock now, but imagine what it's going to be like to be the guy that replaces him if they struggle out of the gate.
As a fan of another team it's like watching a circus and hoping the tent catches fire