Jeremy Jacobs

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Jeremy Jacobs
Born Jeremy Maurice Jacobs
(1940-01-21) January 21, 1940 (age 76)
Buffalo, New York
Nationality United States
Alma mater B.A University at Buffalo
Occupation Chairman of Delaware North
Known for Owner of the Boston Bruins
Net worth Increase US$ 3.6 billion (May 2015)[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 of Delaware North. Forbes magazine ranks him as 481st richest person in the world.[3] He was listed by Forbes 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 State University of New York at Buffalo School of Management and completed the Harvard School of Business Advanced Management Program.[11]

Career[edit]

Delaware North[edit]

Jacobs owns and operates the business founded by his father and uncles, Delaware North. Delaware North is a global hospitality and food service business headquartered in Buffalo, N.Y. The company operates in the lodging, sporting, airport, gaming and entertainment industries.

Delaware North also owns and manages TD Garden, home to the Bruins and the Boston Celtics.[12] It was paid for with Jacobs' own funds.[13]

On January 6, 2015, Jacobs relinquished the title of CEO and named Jerry Jacobs Jr. and Louis Jacobs Co-CEOs. He also named Charlie Jacobs CEO of Delaware North's Boston Holdings.[14]

Boston Bruins[edit]

Jacobs was listed for several years in a row as one of Sports Business Journal's Most Influential People in Sports.[15] He was inducted into the Sports Hall of Fame in Western New York in October 2006.[citation needed]

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 referred to Jacobs as the driving force behind getting the Winter Classic to Boston on January 1, 2010.[16]

After years of disappointing on-ice performance by the hockey club under his ownership, 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.[17] 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 named by Jacobs as President.[17][18]

The changes paid dividends. The Bruins record in the 2008-2009 season was the second best in the NHL.[18] 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.[19] Described as "villainous" and a "bully", he was reportedly hated by the players.[20] 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."[19]

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.[21] “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."[21]

Despite relinquishing the role of CEO to his son Charlie, he remains very active in the team and still holds the title of NHL Chairman of the Board of Governors.[22]

In 2015, Jacobs was one of two recipients of the NHL's Lester Patrick Award for his outstanding service to hockey in the United States. Jacobs was honored during the US Hockey Hall of Fame induction ceremony and dinner that was held on December 17 in Boston.[23]

Philanthropy[edit]

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.[24]

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.[25] 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.[26]

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.[27]

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."[28]

In 2013, Jacobs underwrote a two-year cancer study on the nutrition and food preferences of cancer patients receiving treatment.[29] 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. The consortium aimed to help cancer patients make healthy choices that will support their treatment.[30]

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.[31]

Jacobs, his wife, Margaret, and his family gave $30 million to University at Buffalo's medical school, which will be named the Jacobs School of Medicine and Biomedical Sciences. The donation is the second largest ever in school history. The donation brings Jacobs' and his family's total contributions to UB over the years to more than $50 million.[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.

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 two great-grandchildren.[40] Their children are:

  • Jeremy "Jerry" Maurice Jacobs Jr., co-CEO of Delaware North Companies.[41] In 1990, he married Alice Carroll French, an attorney.[42]
  • Louis "Lou" Michael Jacobs, co-CEO of Delaware North.[43] In 1989, Louis married Joan Babcook in Buffalo.[44]
  • Charles "Charlie" Marvin Jacobs, CEO of Delaware North's Boston Holdings.[45] In 1999, Charlie married Kimberly Diane Warren, a model and actress.[46]
  • 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 1992.[48]
  • Lisann Jane Jacobs married John Victor Holten in Buffalo, New York in 1983.[49] They divorced; Lisann Jacobs is married to Dr. Bruce Platt.[50]

References[edit]

  1. ^ [1] May 2015
  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 http://www.forbes.com/profile/jeremy-jacobs-sr/
  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[dead link]
  9. ^ International Directory of Company Histories: Delaware North Companies Incorporated 1993
  10. ^ Buffalo Sports Hall of Fame: Jeremy Jacobs retrieved January 3, 2012[dead link]
  11. ^ Boston Bruins website: "Jeremy M. Jacobs, Owner & Governor, Boston Bruins" retrieved January 3, 2012
  12. ^ tdbanknorthgarden.com[dead link]
  13. ^ http://www.nytimes.com/2014/12/07/business/a-life-lived-between-buffalo-and-boston-with-a-touch-of-sports.html?_r=1
  14. ^ http://media.delawarenorth.com/delaware+north+companies/jeremy-jacobs-jr-and-louis-jacobs-named-co-chief-executive-officers-for-global-hospitality-leader-delaware-north-charlie-jacobs-named-chief-executive-officer-delaware-norths-boston-holdings.htm[dead link]
  15. ^ The 50 Most Influential People in Sports Business
  16. ^ nhl.com
  17. ^ a b bostonglobe.com
  18. ^ a b bostonbruins.com
  19. ^ a b Strang, Katie. "Bruins owner takes shots at NHLPA". espn.go.com. January 19, 2013. Retrieved January 19, 2013.
  20. ^ Baker, Katie. "Commemorative NHL Lockout Trading Cards". grantland.com. December 6, 2012. Retrieved December 6, 2012.
  21. ^ a b http://www.masslive.com/sports/index.ssf/2013/01/boston_bruins_owner_jeremy_jac.html
  22. ^ http://www.csnne.com/blog/bruins-talk/bettman-bs-look-toward-future-charlie-jacobs
  23. ^ https://www.bostonglobe.com/sports/2015/08/12/jacobs/r0bJxb8bBcalceEJn45UDP/story.html
  24. ^ Roswell Park Cancer Institute Archived November 21, 2007 at the Wayback Machine
  25. ^ University at Buffalo NewsCenter
  26. ^ Corporate Bio: Jeremy M. Jacobs[dead link]
  27. ^ 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
  28. ^ 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
  29. ^ http://www.bostonmagazine.com/health/blog/2013/11/14/cancer-nutrition-consortium-boston/
  30. ^ http://www.bostonglobe.com/lifestyle/health-wellness/2013/12/02/new-nutrition-group-offers-dietary-help-cancer-patients/dyTOo8ICzthcIgOYmUrwLL/story.html
  31. ^ Romanella, Mike. "Bruins, NHL, NHLPA, TD Garden Teaming Up to Donate $250,000 to Boston Marathon Victims". NESN. Retrieved April 18, 2013. 
  32. ^ http://www.buffalonews.com/business/jacobs-family-gives-30-million-to-ub-medical-school-20150914
  33. ^ The Boston Bruins Foundation
  34. ^ University at Buffalo: Jeremy M. Jacobs[dead link]
  35. ^ Bloomber Businessweek: Jeremy M. Jacobs Sr.
  36. ^ Jacobs Honored During Niagara University Convocation
  37. ^ U.S. Travel and Tourism Advisory Board Members Archived September 22, 2008 at the Wayback Machine
  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.[dead link]
  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.[dead link]
  44. ^ "Joan Babcook Weds Louis M. Jacobs". New York Times. August 6, 1989
  45. ^ "Charlie Jacobs". Executive Biographies. Delaware North. Retrieved January 3, 2012,[dead link]
  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.
  50. ^ "Erica Platt, Daniel Malin". The New York Times. July 30, 2010. Retrieved December 31, 2014. 
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