Mike Babcock was courted by several NHL teams, but a hockey analyst says he chose to come to Toronto because of the Maple Leafs' "iconic" status.

Babcock, a former Olympic hockey coach who brought Team Canada to two gold medals, announced he would be leaving the Detroit Red Wings after 10 years at the helm. He was offered multi-million dollar deals from the Red Wings and Buffalo Sabres and was in talks with the San Jose Sharks and St. Louis Blues, but ultimately chose Toronto's offer.

"I think until Mike said, 'Here's where I'm going, here's what I'm doing,' nobody really knew," TSN Hockey Analyst Craig Button told CTV's Canada AM on Thursday.

"When you think about the Toronto Maple Leafs -- the most iconic franchise, in my view, in the world -- I think that that had an appeal to Mike Babcock that other markets just couldn't match."

Button said other teams could have matched the eight-year, $50 million deal, "but you're still not Toronto."

Button said he thought Canadian coach Babcock had an interest in working with a team from his own country.

"I think Toronto fit for Mike in ways we may never know, but it certainly had an appeal and an allure."

What Babcock will bring to Toronto

Button said Babcock will be an asset for the Toronto team that has not made the Stanley Cup playoffs for two years.

"His resume speaks for itself," Button said. "He led Canada to two gold medals."

Babcock helped Team Canada reach the podium in Vancouver in 2010, then brought home the gold again in Sochi in 2014.

It's one thing to have all-star players, but another to get them to play cohesively at the level necessary to win big, he said.

Button said Babcock will be good for the team that many fans say needs a complete rebuild. He said the Leafs likely offered a long-term contract so the new coach can be there for the "transitive moments" of the team's rebuild.

He said the team needs good players, but more importantly, it needs a coach that can maximize the potential of the team.

The new coach will "set the agenda, set the standard, set the expectation," Button said.

"With Mike at the helm, you know you have a chance for those players to get better and for your team to be as good as it possibly can."