Asked about his legacy, Jacobs cited his length of ownership and his leadership within the NHL, both reasons that helped him earn this honor and others, including the Lester Patrick Trophy in 2015 for service to hockey in the United States.
Plus, there's the success. In addition to the Stanley Cup in 2011, the Bruins have won four conference titles, 15 division championships and the Presidents' Trophy twice during his tenure.
"As a player I knew of Mr. Jacobs' passion for the Bruins," Boston president Cam Neely said in a statement. "Over the past decade while in the front office, I have seen firsthand his dedication to winning, by consistently providing the Bruins the resources we need to compete for Stanley Cup championships and also his unmatched commitment to growing the game of hockey."
Jacobs was singled out for praise by one of his fellow electees, Dave Andreychuk, who played for the Bruins late in his career, in 1999-2000.
"To Mr. Jacobs, we spent a brief time together," Andreychuk said in a conference call Monday. "The contributions that you've made to the NHL go noticed here today are well-deserved."
He wasn't alone in saying so.
"It is certainly deserved," former Bruins executive and coach Harry Sinden, a member of the Hall of Fame as a builder, said in a statement. "A very well-deserved honor to one of the finest Governors and owners in the National Hockey League."