Jeremy M. Jacobs has turned over ownership of the Boston Bruins to his six children, the Boston Globe reported Friday.
“I have given it to my kids,” Jacobs told the Globe. “They are paying me some of the proceeds that come out of this. It happened this year. This was done on the basis that the longevity is going to continue in the hands of the Jacobs children, and the next generation will have it.”
Jacobs, 79, is a prominent Buffalo business executive, serving as chairman of Delaware North, the privately held hospitality and food service giant based here.
Jacobs has owned the Bruins since 1975; the team won the Stanley Cup in 2011. In 2017, he was inducted into the Hockey Hall of Fame, as a contributor. Jacobs has also held the influential role of chairman of the National Hockey League's board of governors since 2007. The NHL said Jacobs will remain the board's chairman, since he remains the Bruins' governor on the board.
Jacobs has three sons and three daughters. One of his sons, Charlie, already serves as the Bruins' CEO and an alternate governor to the NHL's board of governors. The Globe described the ownership transition as part of a long-planned succession that finally took place this year.
Jacobs bought the Bruins and Boston Garden for $10 million in 1975. "Dad came home one day and said he bought the Bruins," Jerry Jacobs Jr. said in a 2011 interview. Forbes ranked the Bruins as the fifth-most valuable NHL franchise, at $925 million. Jeremy Jacobs himself has an estimated net worth of $4.1 billion, according to Forbes.
In 2015, Jacobs named his three sons co-CEOs of Delaware North, with Charlie overseeing the company's Boston interests, and Jerry Jr. and Lou based in Buffalo.