And the Blues boss is confident he will be joined by Reeco Hackett at Fratton Park moving forward.
Pompey are in talks with the attacking pair about new deals, with the club holding an option to give them new contracts.
A performance-based deal has been mooted for Jacobs, with the former Wolves and Derby man ready to weigh up accepting such terms.
Hackett’s option includes an increase in wages, after a season which saw him clock up 34 appearances before his campaign was curtailed through a knee injury in February.
He said: ‘We’re in ongoing conversations with both players.
‘Both players have been made offers and we’d like to keep both players.
‘I think both of them give the squad different qualities and they can offer us a lot moving forward.
‘We’re hopeful we can get those on the line.
‘We’d hope to have some news imminently on both. We’re hopeful.’
Pompey have to announce their retained list by Saturday, which will likely state conversations are continuing with both Jacobs and Hackett.
In terms of Jacobs, there are clubs interested in signing the 30-year-old after showing impressive form over when brought into the first-team fray.
Northampton, the club where Jacobs emerged, are interested but the winger wants to play League One football, and the Cobblers saw their promotion hopes dashed in the play-offs against Mansfield on Wednesday night.
Cowley acknowledged it’s the right of the players to weigh up what options are out there for them.
He added: ‘Ultimately it has to be right for them and it has to be right for us.
‘With any negotiation there’s always two parties involved and it has to be right for both parties.’