Travis Kelce’s Investment Firm Pushes Six Flags to Consider Sale Amid Struggles
Travis Kelce and Jana Partners push Six Flags to explore a sale as attendance drops and legal issues arise.
POLICY WIRE — City, Country — An investment group led by NFL star Travis Kelce is now encouraging Six Flags Entertainment Corporation to consider selling the company, according to recent reports. The move comes as the theme park operator faces declining attendance and mounting financial pressures.
Kelce, along with New York-based hedge fund Jana Partners, holds a combined 9 percent stake in Six Flags, which was valued at $200 million when the investment was made last October. The firm had previously aimed to improve marketing efforts and customer experience at the parks, while also exploring a potential sale to increase shareholder value.
Shares of Six Flags have fallen significantly, trading around $12.43 per share—nearly half of its yearly high. The company reported a net loss of $203 million in the second quarter, up from $100 million a year earlier, and saw a 7 percent drop in guest visits compared to the previous year. Jana Partners has reportedly urged the board to hire an investment bank to explore a sale, citing dissatisfaction with recent earnings performance.
Reporting by Policy-Wire (PW)
