Travis Kelce Joins Investor Group Holding 9% Stake in Six Flags

Activist investor Jana Partners has acquired a roughly 9% stake in Six Flags Entertainment, partnering with NFL star Travis Kelce and other executives to push for improvements in the struggling amusement park operator's business and guest experience. Six Flags shares surged over 17% following the announcement, reversing part of a significant decline in the stock this year amid poor attendance and weather-related challenges. Kelce, a lifelong fan of Six Flags and a Cleveland-area native, expressed enthusiasm for helping revitalize the parks for future generations. Jana Partners aims to engage Six Flags' board and management to enhance shareholder value and has added a representative from Sachem Head Capital to the board, with Kelce and other executives as potential board nominees. The company has faced recent setbacks including CEO Richard Zimmerman's planned departure, closures of some parks, and a merger with Cedar Fair that has yet to boost performance. This collaboration reflects a broader activist investor effort to stabilize and grow Six Flags amid ongoing operational and financial difficulties.