"I love it here," Babcock said after cleaning out his office at Joe Louis Arena. "But I also think that it was time for me … I wanted a different challenge."
Babcock was hired by the Maple Leafs on Wednesday, signing what was reported by TSN and Sportsnet as an eight-year, $50 million contract.
However, Babcock said Friday it wasn't the money that lured him to Toronto.
"Is it about money? Sure it's about money," Babcock said. "But there was enough money in every place that it didn't factor into the decision. I already have enough nice suits. I'm good."