Orioles: Forty Years of Magic from 33rd Street to Camden Yards, Ted Patterson made the following observation of the new majority owner: In the first year of the Jacobs regime, the Orioles nearly shocked the baseball world by transforming itself from the worst team in Major League Baseball with a 54–107 record in to one that fell short of winning the AL Eastern Division title by two games, finishing at 87-75. Bankruptcy When seven banks filed petitions to force him into bankruptcy in March 1993, Jacobs had to relinquish the Orioles. At an auction held in bankruptcy court in New York on August 2, 1993, the ballclub was sold for $173 million to a group of Baltimore investors led by Peter Angelos. The sale was unanimously approved by the AL club owners two months later on October 4. Later years Affiliated with the Republican Party, Jacobs has served on various national security and military intelligence committees for the federal government. He was a member of the General Advisory Committee of the United States Arms Control and Disarmament Agency during the Reagan Administration. In January, 2000, he was appointed by then-Speaker of the House Dennis Hastert to his current role on the National Commission for the Review of the National Reconnaissance Office. Jacobs has been a director with the Convera Corporation since February 2002. He is a member of both its executive and compensation committees. Jacobs has served on the boards of several technology start-ups since 2003, including The Water Company, LLC, headquartered in Pueblo, Colorado. References External links Convera Inc. - Board of Directors. Light, Larry & Collingwood, Harris. "Can Baltimore's Birds Bail Out Their Owner?" BusinessWeek, February 22, 1993. Waldman, Ed. "Sold! Angelos scored with '93 home run," The Baltimore Sun, August 1, 2004. Restaurants Unlimited - Owned by Jacobs from 1990 to 1994. Bibliography Frank, Peter H. & Rosenthal, David. "Orioles are sold: $70 million; Jacobs is quiet deal-maker," The Baltimore Sun, Wednesday, December 7, 1988. Baltimore Orioles 1990 Media Guide. 1937 births Living people Major League Baseball owners Baltimore Orioles owners Phillips Academy alumni Yale Law School alumni United States Army personnel