Major influence Jacobs joins Hall
TORONTO — It’s not uncommon for owners of NHL franchises to get the call to the Hockey Hall of Fame. What makes Bruins owner Jeremy Jacobs different than others is the significant influence he has had on the league’s overall business model.
“Jeremy has been committed to and at the forefront of every step our league has taken,” NHL commissioner Gary Bettman said at last night’s induction ceremony. “From a personal standpoint, his insights and counsel are rock solid, consistent and invaluable to me.”
Jacobs, also the chairman of the NHL board of governors, is known around the league as the voice of the owners. Although Bettman is the chief negotiator and speaks on behalf of all owners as a collective, Jacobs is the most vocal constituent.
The B’s owner used his business acumen in orchestrating the NHL’s salary cap in 2004, the same system which caused the league to shut down for an entire season, something never seen in any of the four major professional leagues (Major League Baseball, National Basketball Association, National Football League).
Still, as a builder, he has helped his fellow owners gain some fiscal responsibility, a salary cap that has protected general managers from some of the temptations that come with no limit to compensation. NHL revenues continue to grow, and the league has become bigger. The Vegas Golden Knights began play this season as the league’s 31st franchise.
“As I stand before you today, nothing that I have done in my professional life is as enjoyable and as thrilling as hockey,” Jacobs said as he received his plaque from Bruins president Cam Neely.
The chair of Delaware North, a global hospitality company, Jacobs has had an up-and-down tenure as Bruins owner. The team had just won two Stanley Cups when he purchased it in 1975, but it took 36 years for Jacobs to win his first championship. Although there has only been one Stanley Cup, the Bruins have missed the playoffs just six times under Jacobs, including an NHL-record streak of 29 consecutive seasons with a postseason berth.
Through the first 25 years of ownership, Jacobs relied on the knowledge of Harry Sinden, who coached and managed the Bruins at different stages.
“Harry’s knowledge of hockey surpasses anyone that I’ve ever known,” Jacobs said of his fellow Hall of Fame builder.
Jacobs was inducted along with 22-year NHL veteran Mark Recchi. The native of Kamloops, British Columbia, spent his last three seasons with the Bruins before retiring at the end of the team’s 2010-11 championship run.
“I really couldn’t have asked for a better end to my career than winning a championship with Mr. Jacobs,” Recchi said. “That team hadn’t won in 39 years, and it’s something I’m very proud of.”
The Bruins are very much a team in transition. They are led by 40-year-old captain Zdeno Chara and are third from the bottom in the Eastern Conference with a 6-6-4 record.
Although he was recognized for his past accomplishments yesterday, Jacobs likely will play another critical role in a standoff between players and owners. The NHL’s collective bargaining agreement can be opened up unilaterally at the end of the 2019-20 season.
The decision in April by the league to forego the 2018 Winter Olympics did not sit well with the NHL Players Association. Both sides appear to be on a collision course, which could result in yet another labor stoppage. If everything stays the same, Jacobs likely will reprise his role as the lead influence during negotiations.
Jacobs now is in the Hall of Fame, and his hold on the league and its business never has been stronger.