But a number of clubs, including Northampton Town, remain keen on the 30-year-old whose contract comes to a close this summer.
The News understands Jacobs is keen to find a way to remain at Fratton Park, where he feels he has ‘unfinished business’.
A pay-as-you-play deal has been mooted by Danny Cowley for the former Derby County and Wolves man.
That has been followed up with an incentive-based offer, however, which would top up a basic salary depending on how Jacobs performs.
The winger believes that is a reasonable basis on which a deal can be struck, to allow him to extend his two-year stay at Fratton Park.
Jacobs accepts that Pompey will want to craft a deal which protects them, given the injury issues he’s had since arriving from Wigan.
The winger’s fitness record in more recent times has been much improved, however, with his influence coming to the fore over the second half of the campaign.
A knee injury in February was his only setback after a 2021-22 season in which he suffered a number of issues.
After not starting a league game until the win over AFC Wimbledon in November, Jacobs impressed with his quality central to some of Pompey’s best form in 2022.
It remains to be seen how the story will now play out, with Jacobs in a position to weigh up his options and see what is out there for him.
Northampton are the club Jacobs emerged at, making 100 appearances across three years before moving to Derby in 2012.
They are involved in the League Two play-offs at present, and will bid to overturn a 2-1 deficit against Mansfield at Sixfields on Wednesday evening.
A return to his first club would hold potential appeal for Jacobs, but he believes he still has the talent to operate at League One level moving forward and has no intention of stepping down to the fourth tier.
Pompey face a busy summer of transfer activity with 12 players out of contract, before options were taken up on Marcus Harness, Louis Thompson and Jay Mingi.
With that quartet staying put, Pompey will have 14 players contracted for the 2022-23 season.
Cowley has stressed he would like to keep as many as 17 of the men he worked with last term.
Sean Raggett, Aiden O’Brien and Reeco Hackett are among the players out of contract this summer.