Longtime Boston Bruins owner Jeremy Jacobs has handed off the franchise to his six children, The Boston Globe reported Friday.

Jacobs, who turns 80 in January, said he signed over the team to the siblings earlier this year as part of his succession plan, but no public announcement was made. They are expected to keep the team and pass it down to their children.

"I have given it to my kids," Jacobs told the Globe. "They are paying me some of the proceeds that come out of this. It happened this year. This was done on the basis that the longevity is going to continue in the hands of the Jacobs children, and the next generation will have it.

"Hopefully, it will continue to be a successful franchise."

He has three sons and three daughters.

Jacobs, a billionaire, owns Delaware North, a hospitality and food service business based in Buffalo, N.Y. His sons now run that company.

He bought the Bruins, an Original Six franchise, in 1975 for about $10 million. In 2017, he was inducted into the Hockey Hall of Fame in the builders category.

Under his leadership, the Bruins won the 2011 Stanley Cup.