Gretzky on Babcock: 'I think he'll do a great job' with Maple Leafs

Wayne Gretzky believes the Toronto Maple Leafs made a great move landing Mike Babcock.

"Obviously it's exciting for the people in Toronto," the NHL legend told the Canadian Press Wednesday.

"You get a coach of that calibre that's got a Stanley Cup, a couple of Olympic gold medals, it's a really good acquisition for the Toronto Maple Leafs."

Babcock chose to leave the Detroit Red Wings, with whom he spent 10 seasons, agreeing to sign with the Leafs for a reported eight years and $50 million.

"I'm sure the people in Detroit are a little bit disappointed when you lose a guy of that calibre, but that's the way the business is now in sports," Gretzky said.

"I think he's really going to enjoy being in Toronto and I think he'll do a great job."

Gretzky and Babcock led Canada to a gold medal at the 2010 Winter Olympics in Vancouver. Babcock won another gold in Sochi four years later.

The Maple Leafs made Babcock the highest paid head coach in NHL history on Wednesday, and Gretzky believes the signing will pave the way for future coaching salaries to be increased.

"If (the) top-paid guy makes a million dollars a year, the second-best coach gets $700,000. (If the) top guy is making $8 million, you're going to ask for $6 million," Gretzky said.

"That's just capitalism. That's just the way life is. In professional sports the dollars keep rising."