Blues boss Danny Cowley confirmed the player, whose future has been the subject of much talk this summer, is set to leave the club after being absent from the PO4 side’s victory at Fleetwood today.
Cowley said a decisive move was made for the winger, who has one year remaining on his Pompey contract, late on Friday night – hours after further talk of a reunion with Paul Cook at Portman Road resurfaced.
And with the head coach keen to bolster his budget as he attempts to add to his 10 summer signings to date, it was a bid that was deemed acceptable.
That extra funding could now be ploughed into a midfielder, with movement on that front expected within the next 24-48 hours.
Confirming that Jacobs’ future lay elsewhere, Cowley told BBC Solent after today’s 1-0 win at Fleetwood: ‘I think there’s been a bid from another club which we have accepted.
‘Michael, we really love as a boy, he’s a great kid, a very, very good player.
‘But he’s one of the highest earners at the club and he plays in a position where Ronan Curtis plays and Ronan is one of our best players and consistent performers.
‘We’re trying to work the budget to allow us the flexibility to do something else in another position, which I believe will be the best thing for us going forward.
‘The timing wasn’t great on the eve of the season because we really could have done with him today and started today if he had been available.
‘But this all happened late last night and ultimately we have to take a long-term view.’