'We would've loved to have kept him' - Pompey boss Cowley on Jacobs

Jacobs, 29, was in Suffolk on Friday to finalise his move to the Blues, which is expected to be announced after the weekend.

And unsurprisingly he wasn't part of the Pompey squad for their season-opening 1-0 win over Fleetwwod yesterday.

After the game, Cowley confirmed that Pompey have accepted a bid for Jacobs, but stopped short of confirming the club he's heading to.

Cowley told Hampshire Live: "I believe there has been a bid accepted from another club.

“That happened yesterday. Michael is a really good kid, a great professional and is technically really gifted. Probably had a frustrating time because of injuries. We would’ve loved to have kept him.

“Realistically, he is a high earner playing in the same position as someone like Ronan Curtis and it just allows us to use that money to hopefully add to the balance of the squad and that is what we have decided to do.

Portsmouth boss Danny Cowley has confirmed his club have accepted an offer for Michael Jacobs (Image: PA Wire/PA Images)

“You are looking to use the money as intelligently as you can and we have had brilliant support from our owners and I want to shout it from the rooftops.

“They have spent so much money on this football club, the stadium and the training ground.

“We are clear on what the budget is and what we have got to do and we’re trying to navigate around it intelligently. Sometimes you have got to wait for other clubs to want your players and when they do, then we can’t always manage the timing.

“It was a shame to lose Michael yesterday, but under the circumstances, you have a decision to make.”

Jacobs, who can play wide or through the middle as a No.10 and will add much-needed depth to Cook's squad, will be the 13th signing of the summer for the Blues.

Middlesbrough left-back Hayden Coulson is also still expected to sign.