Jeremy Jacobs

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Jeremy Jacobs
JeremyJacobs.jpg
Boston Bruins owner Jeremy Jacobs (right) talks with Boston Bruins President Cam Neely
Born Jeremy Maurice Jacobs
(1940-01-21) January 21, 1940 (age 74)
Buffalo, New York
Nationality United States
Alma mater B.A University at Buffalo
Occupation CEO of Delaware North Companies
Known for owner of the Boston Bruins
Net worth Increase US$ 3.0 billion (March 2014)[1]
Spouse(s) Margaret
Children 6

Jeremy Maurice Jacobs, Sr.[2] (born January 21, 1940) is the owner of the Boston Bruins and is also Chairman and Chief Executive Officer of Delaware North Companies. Forbes magazine ranks him as #583 of the world's billionaires.[3] He was listed by Forbes magazine for his philanthropic endeavors.[3]

Early life and education[edit]

Jacobs was born in 1940,[4] the son of Genevieve (née Bibby)[5][6] and Louis Jacobs, the son of Jewish immigrants from Poland.[7] In 1915, his father and his two brothers, Charles and Marvin, founded a company that first sold concessions in theaters and then expanded to major league ballparks.[8][9][10] His father took over the company in the 1950s when the health of his brothers faltered[7] and Jeremy took over at age 28 when his father died in 1968.[8]

Jacobs has a B.A. from the University of Buffalo's School of Management and completed the Harvard School of Business Advanced Management Program.[11]

Delaware North Companies[edit]

Jacobs owns and operates the business founded by his father and uncles, Delaware North Companies. Delaware North is a global hospitality and food service business headquartered in Buffalo, N.Y. It is one of the largest privately held companies in North America. The company operates in the lodging, sporting, airport, gaming and entertainment industries. The company employs over 55,000 people worldwide and has more than $2.7 billion in annual revenues.

Delaware North also owns and manages TD Garden, home to the Bruins and the Boston Celtics, and one of the top concert and sports venues in North America.[12]

Boston Bruins[edit]

Jacobs is well known in the sports industry, including being listed for several years in a row as one of Sports Business Journal's Most Influential People in Sports.[13] He was inducted into the Sports Hall of Fame in Western New York in October 2006.

Since 1975, Jacobs has owned the National Hockey League's Boston Bruins. Jacobs represents the club on the NHL's Board of Governors and serves on its Executive Committee. At the NHL Board of Governors meeting in June 2007, Jacobs was elected Chairman of the Board, replacing the Calgary Flames' Harley Hotchkiss, who stepped down after 12 years in the position.

The NHL has referred to Jacobs as the driving force behind getting the Winter Classic to Boston on January 1, 2010.[14]

After years of disappointing on-ice performance by the hockey club, Jacobs made changes in management of the Bruins, with the retirement of veteran team president Harry Sinden from active management of the team into an advisory capacity.[15] New management included Peter Chiarelli and head coach Claude Julien. Cam Neely, a former Bruin player, was also lured back to the new organization and was recently named by Jacobs as President.[15][16]

In recent years, the changes have paid dividends. The Bruins record in the 2008-2009 season was the second best in the NHL.[16] In 2011, the Bruins won their first Stanley Cup in 39 years, beating the Vancouver Canucks in a seven game series.

Jacobs was referred to as one of the "most militant hard-line" NHL owners responsible for the 2012–13 lockout.[17] Described as "villainous" and a "bully", he was reportedly hated by the players.[18] On the first day of the 2012–13 NHL season after the lockout ended, Jacobs blamed the Players' Association for the season's delay, saying of the union, "There was no expression of a desire to make a deal."[17]

Jacobs responded to reports that he was a "hard-liner" in the 2012-13 NHL lockout by saying he put the good of the league ahead of his own interest in keeping the players on the ice.[19] “I’m coming off winning a Stanley Cup (in 2011). I’ve got a sold-out building. I have a financially sound business. No Debt. Ownership for 37 years,” he said. “I’m the last guy that wants to shut this down – absolutely the last one out there. “Unfortunately, I play in a league with 30 teams. And when I step back and look at what’s going on with the broadest sense of the league, I’ve got to play a role constructively in that way."[19] What's more, Jacobs also said he spoke with the players and didn’t feel any resentment for his role in the lockout.[20]

In August 2013, Jacobs was honored with the “St. Jude Award for Inspiration in Sports 2013” at the Global Sports Summit in Aspen, Colo. The Global Sports Summit is the first and only private meeting designed for leaders and owners of sports franchises from the NFL, NBA, MLB, NHL, MLS and European football. Jacobs and the Bruins organization were recognized for commitment and dedication to the Boston community in the wake of the Boston Marathon bombings. After accepting the award, Jacobs spoke about the strength and resiliency of the community, following the tragic events that took place at the 2013 marathon.

In March 2014, Jacobs did an interview with the YES Network and Forbes Sports Money discussing why he bought the Boston Bruins in the first place, his efforts to make the NHL a more competitive league, and what it meant to him to win the Stanley Cup.[21]

Philanthropy[edit]

An active philanthropist, Jacobs gives millions of dollars to national and community based charities each year.[citation needed] Jacobs' work with the United Way has not only benefited the communities where the company operates, it has also earned him the designation as part of the Million-Dollar Roundtable of donors. Jacobs is also a member of the Jeremiah Milbank Society, recognizing him for his strong support to the Boys and Girls Clubs of America.[22]

In 2013, Jacobs underwrote a two-year cancer study on the nutrition and food preferences of cancer patients receiving treatment.[23] The study, called the Cancer Nutrition Consortium, focused on patient preferences and issues related to their ability to eat and drink while undergoing cancer treatment, including therapies like chemotherapy and radiation. Seven major medical centers across the country participated: Roswell Park Cancer Institute, New York University Clinical Cancer Center, Dana-Farber/Brigham and Women’s Cancer Center, Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, University of Chicago Comprehensive Cancer Center, Mayo Clinic Cancer Center, and the Cedars-Sinai/Samuel Oschin Comprehensive Cancer Institute.[24] The consortium aims to help cancer patients make healthy choices that will support their treatment. A survey was the first part of that effort, along with a new website, www.cancernutritionconsortium.org, which includes recipes and a forum to ask questions of professional chefs and nutritionists.[25]

In 2007, Jacobs provided a $1 million gift with his family to support an endowed chair in Immunology at Roswell Park Cancer Institute (RPCI). The gift was made to RPCI's Leaders for Life endowment campaign in honor of Jacobs' brother, the late Lawrence D. Jacobs, MD, an immunology researcher who died in 2001.[26]

The University at Buffalo announced on June 11, 2008, a $10 million gift from Jacobs, his wife, Margaret, and family to establish the Jacobs Institute, which will support research and clinical collaboration on the causes, treatment and prevention of heart and vascular diseases. Again, the gift was made in honor of his late brother, Lawrence. The Jacobs' gift was at the time the largest single gift ever to UB. The donation also made the Jacobs family the university's most generous benefactor, with gifts totaling $18.4 million.[27] Jacobs is also a benefactor of the University at Buffalo and has served as chairman, trustee and director of the UB Foundation, chairman of the President's Board of Visitors, and advisor to the School of Management in addition to serving as chairman of the University at Buffalo Council since 1998.[28]

The Jacobs family and their company Delaware North Companies donated $250,000 to the Martin House Restoration Project in March 2012, following up on an earlier donation of $146,000. The project aims to restore the Martin House in Western NY, one of famed architect Frank Lloyd Wright’s designs.[29]

In November 2012, Jacobs and his family announced a $1 million donation to the Say Yes Buffalo Scholarship. Say Yes Buffalo is “an education-based initiative that provides a powerful engine for long-term economic development, which will radically improve the life course of public school students in the City of Buffalo.”[30] The initiative aims to help improve education for students living in poverty in and around Buffalo, NY.[31]

On April 17, 2013, Jacobs announced that he had pledged $100,000 on behalf of the Bruins organization and players to The One Fund Boston, supporting Boston Marathon victims and their families.[32]

Jacobs is also heavily involved in the funding of the Boston Bruins Foundation, which was founded and is chaired by his son Charlie. The Bruins Foundation provides grants to local organizations that seek to improve the lives of children through education, health, athletics, and a broad range of community outreach projects.[33]

Other activities[edit]

Jacobs holds honorary doctorates from the University at Buffalo, Canisius College, Johnson and Wales University, and Niagara University, where he was awarded an honorary doctor of commercial science in October 2013.[34][35][36]

He is currently serving his second term on the U.S. Department of Commerce Travel and Tourism Advisory Board.[37] Members of the board are selected by the Secretary of Commerce and advise the Secretary on government policies and programs that affect the U.S. travel and tourism industry.

Jacobs has made substantial contributions to the presidential campaigns of George W. Bush, John Kerry, Mitt Romney, Hillary Clinton, Joe Lieberman, and John Edwards,.[38] He reportedly contributed over $650,000 to municipal elections in the village of Wellington, Florida. The Jacobs family has been involved in a dispute with developer Mark Bellissimo over proposed development within Wellington's Equestrian Preserve of a major equestrian sports complex near his home in the village.[39]

Jacobs also owns an interest in NESN, the New England Sports Network, sharing ownership with John Henry, a friend and owner of the Boston Red Sox.

In April 2014, Jacobs expressed interest in purchasing the Buffalo Bills, but cannot personally purchase the team due to NFL regulations forbidding ownership of teams in different cities.

Personal life[edit]

He and his wife Margaret reside in East Aurora, New York and in Wellington, Florida. They have six children (three sons and three daughters), eighteen grandchildren, and one great-grandchild.[40] Their children are:

  • Jeremy "Jerry" Maurice Jacobs Jr., principal of Delaware North Companies.[41] In 1990, he married Alice Carroll French, an attorney, in a Presbyterian ceremony.[42]
  • Louis "Lou" Michael Jacobs, principal of Delaware North Companies.[43] In 1989, Louis married Joan Babcook at St. Joseph's Roman Catholic Cathedral in Buffalo.[44] They live in East Aurora, New York, and Wellington, Florida, with their daughter and son.
  • Charles "Charlie" Marvin Jacobs, principal of Delaware North Companies.[45] In 1999, Charlie married Kimberly Diane Warren, a model and actress, in an Episcopalian and Roman Catholic ceremony.[46] They have three children.
  • Margaret Lynn Jacobs, account executive at Merrill Lynch, Pierce, Fenner & Smith in New York. In 1986, she married John Bartlett Reichenbach of Carlisle, Massachusetts.[47]
  • Katie Louise Jacobs, married James Dixon Robinson 4th in a Roman Catholic ceremony in 1992.[48]
  • Lisann Jane Jacobs, married John Victor Holten of Norway at St. Michael's Roman Catholic Church in Buffalo in 1983.[49]

References[edit]

  1. ^ [1] March 2014
  2. ^ http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=Peter+J.+Karmanos+67#q=jeremy+m++jacobs+1940+Delaware+North+Companies&hl=en&tbs=bks:1&ei=5rcjTYiNNNv4nwfZkOmrDg&start=0&sa=N&fp=a94718a4dcefd985
  3. ^ a b [2]
  4. ^ Who's Who in Finance and Business - 2009-2010, 37th Edition (pub. 2009)
  5. ^ University of Buffalo: Jacobs Management Center (JACOBS) - North Campus "The building honors the late Louis Jacobs and his wife, the late Genevieve Bibby Jacobs." retrieved December 3, 2012
  6. ^ Delaware North Companies: "Genevieve Jacobs Award for Community Service" retrieved January 3, 2012
  7. ^ a b Ocala Star Banner: "Fan-tastic Food - Delaware North to Dish Up Treats at New Arena" by John Affleck September 20, 1996
  8. ^ a b Success.com: "Boston Bruins Owner Jeremy Jacobs Works for Peanuts - How he raised his father's concessions company to global heights" retrieved January 3, 2012
  9. ^ International Directory of Company Histories: Delaware North Companies Incorporated 1993
  10. ^ Buffalo Sports Hall of Fame: Jeremy Jacobs retrieved January 3, 2012
  11. ^ Boston Bruins website: "Jeremy M. Jacobs, Owner & Governor, Boston Bruins" retrieved January 3, 2012
  12. ^ tdbanknorthgarden.com
  13. ^ The 50 Most Influential People in Sports Business
  14. ^ nhl.com
  15. ^ a b bostonglobe.com
  16. ^ a b bostonbruins.com
  17. ^ a b Strang, Katie. "Bruins owner takes shots at NHLPA". espn.go.com. January 19, 2013. Retrieved January 19, 2013.
  18. ^ Baker, Katie. "Commemorative NHL Lockout Trading Cards". grantland.com. December 6, 2012. Retrieved December 6, 2012.
  19. ^ a b http://www.masslive.com/sports/index.ssf/2013/01/boston_bruins_owner_jeremy_jac.html
  20. ^ Jacobs said he spoke with the players before the game and didn’t feel any resentment for his role in the lockout.
  21. ^ Forbes Sports Money: Jacobs
  22. ^ Delaware North Companies foundation
  23. ^ http://www.bostonmagazine.com/health/blog/2013/11/14/cancer-nutrition-consortium-boston/
  24. ^ The study focused on patient preferences and issues related to their ability to eat and drink while undergoing cancer treatment, including therapies like chemotherapy and radiation. Seven major medical centers across the country participated: Roswell Park Cancer Institute, New York University Clinical Cancer Center, Dana-Farber/Brigham and Women’s Cancer Center, Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins, University of Chicago Comprehensive Cancer Center, Mayo Clinic Cancer Center, and the Cedars-Sinai/Samuel Oschin Comprehensive Cancer Institute.
  25. ^ http://www.bostonglobe.com/lifestyle/health-wellness/2013/12/02/new-nutrition-group-offers-dietary-help-cancer-patients/dyTOo8ICzthcIgOYmUrwLL/story.html
  26. ^ Roswell Park Cancer Institute[dead link]
  27. ^ University at Buffalo NewsCenter
  28. ^ Corporate Bio: Jeremy M. Jacobs
  29. ^ Buffalo Rising: Jacobs Family Donation to Martin House Restoration Project “Delaware North Companies and Jacobs Family Make Major Gift to Further Martin House Restoration.” retrieved September 12, 2013
  30. ^ Jacobs Family $1 Million Donation to Say Yes Buffalo “Delaware North Companies and the Jacobs Family Announce $1 Million Gift to Say Yes Buffalo Scholarship.” retrieved September 12, 2013
  31. ^ Say Yes Buffalo
  32. ^ Romanella, Mike. "Bruins, NHL, NHLPA, TD Garden Teaming Up to Donate $250,000 to Boston Marathon Victims". NESN. Retrieved April 18, 2013. 
  33. ^ The Boston Bruins Foundation
  34. ^ University at Buffalo: Jeremy M. Jacobs
  35. ^ Bloomber Businessweek: Jeremy M. Jacobs Sr.
  36. ^ Jacobs Honored During Niagara University Convocation
  37. ^ U.S. Travel and Tourism Advisory Board Members[dead link]
  38. ^ The Huffington Post - FundRace 2008
  39. ^ http://www.palmbeachpost.com/news/news/wellington-margolis-ousts-bowen-as-mayor-hostetl-1/nLhcg/
  40. ^ "Jeremy M. Jacobs – Chairman and Chief Executive Officer". Biography. Delaware North Companies. Retrieved January 3, 2012.
  41. ^ "Jerry Jacobs Jr". Executive Biographies. Delaware North. Retrieved January 3, 2012.
  42. ^ "Ms. French Weds J. M. Jacobs Jr." New York Times. December 2, 1990.
  43. ^ "Lou Jacobs". Executive Biographies. Delaware North. Retrieved January 3, 2012.
  44. ^ "Joan Babcook Weds Louis M. Jacobs". New York Times. August 6, 1989
  45. ^ "Charlie Jacobs". Executive Biographies. Delaware North. Retrieved January 3, 2012,
  46. ^ "WEDDINGS: Charles Jacobs and Kimberly Warren". New York Times. February 7, 1999.
  47. ^ "Lynn Jacobs, an Account Executive, To Wed John Reichenbach". New York Times February 10, 1985.
  48. ^ "WEDDINGS: Katie Jacobs, J. D. Robinson 4th". New York Times. June 7, 1992.
  49. ^ "John V. Holten Is Wed to Lisann Jacobs". New York Times. April 10, 1983.
Preceded by
Storer Broadcasting
Boston Bruins principal owner
1975–Present
Succeeded by
Current
Preceded by
Harley Hotchkiss
Chairman of the NHL Board of Governors
2007–Present
Succeeded by
Current