(Sports Network) - The Stanley Cup champion Detroit Red Wings have reportedly agreed to a new three-year contract with head coach Mike Babcock. The Detroit Free Press reported Tuesday night that the club will anounce the new contract at a press conference on Wednesday morning.
The paper reported the deal to be worth about $1.5 million per season. The 45- year-old Babcock had a one-year option for a fourth year on his initial contract with the club, but declined it with hopes of signing an extension.

The Red Wings have won 50-or-more games in each of their three seasons under Babcock, including a 54-21-7 finish this season, good for 115 points and the Presidents' trophy.
After a disappointing first-round upset against Cup finalist Edmonton two years ago, the Red Wings made a run to the Western Conference finals last season before falling to eventual champion Anaheim. They followed up with their successful playoff run this season, capped by a six-game victory over the Pittsburgh Penguins in the Stanley Cup Finals.
Babcock came to Detroit after two seasons with the former Mighty Ducks of Anaheim. He led the club on a surprising run to the Stanley Cup Finals in his rookie season behind the bench in 2003, losing in seven games to the New Jersey Devils.
A native of Saskatoon, Saskatchewan, Babcock holds a 231-118-42 record with 19 ties over five seasons with Anaheim and Detroit.
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