Mike Babcock will reportedly be staying with the Detroit Red Wings. (USATSI)
Mike Babcock will reportedly be staying with the Detroit Red Wings. (USATSI)

Detroit Red Wings coach Mike Babcock denied a report that is on the verge of signing a new contract extension with the team on Thursday. 

According to a report from Bob Duff of the Windsor Star on Wednesday, Babcock could be on the verge of signing a new contract extension with the Red Wings that will make him the highest paid coach in the NHL. The deal, according to Duff, could be imminent.

But when asked about the subject the day after Detroit's 2-1 shootout loss to the Toronto Maple Leafs, Babcock dismissed the report as "fantasy."

From ESPN's Craig Custance...

Babcock's current contract with the Red Wings expires after this season which led to a steady stream of rumors and speculation that he could be move on to a new team next season. Currently in his 10th season with the Red Wings, Babcock has never missed the playoffs with the team and has won nearly 60 percent of his regular season games with the team. Over the past two years, as the Red Wings have started to transition to a younger roster and have dealt with some significant losses on their defense with the retirements of Nicklas Lidstrom and Brian Rafalski, Babcock has arguably done his best coaching jobs with the Red Wings.

As of Thursday, two months into a season that some expected the team to take a significant step backwards and perhaps even miss the playoffs for the first time in more than 20 years, the Red Wings have the highest point total in the Eastern Conference.

Before his time with the Red Wings, Babcock coached the Anaheim Ducks for two seasons including the 2002-03 season when they reached the Stanley Cup Final.

In his coaching career Babcock coached teams have played in three Stanley Cup Finals (one with Anaheim, two with Detroit) and won one. Along with his NHL success, Babcock has also coached team Canada to Gold Medals in the 2010 and 2014 Winter Olympics. 

This is an updated version of an early article on the report that Babcock could be near a new extention.