Travis Kelce, the renowned tight end for the Kansas City Chiefs and fiancé of pop superstar Taylor Swift, has recently stirred up a mix of excitement and humor with his latest business move. He announced an investment in the beleaguered amusement park company Six Flags Entertainment. In a strategic partnership with two corporate executives and the activist investment firm JANA Partners, Kelce and his team have acquired a significant stake, totaling approximately 9% of Six Flags' shares, positioning them as some of the company’s largest shareholders.
JANA Partners, known for its activist investment strategies, typically acquires substantial stakes in companies to promote operational and managerial changes. Kelce expressed his enthusiasm for this opportunity on Instagram, stating, "Couldn't pass up the opportunity to continue the tradition and make Cedar Point and Six Flags even more special for the next generation of families!" His nostalgic post included home videos from his childhood, showcasing his passion for amusement parks, particularly Cedar Point in Sandusky, Ohio, which he frequented with his brother, Jason Kelce, a retired NFL player.
Six Flags has undergone significant changes since its merger with Cedar Fair in 2024, creating the largest amusement park operator in North America, boasting 42 parks across the U.S., Canada, and Mexico. However, the merger came at a time when many parks were struggling to recover attendance levels post-COVID-19 pandemic. Analysts had high hopes that this merger would lower ticket prices and increase revenue, helping Six Flags compete with industry giants like Disney and Universal. Unfortunately, those expectations have not materialized, as noted by Dennis Speigel, CEO of International Theme Park Services.
Speigel remarked that the merger's due diligence might have been rushed, leading to significant flaws, compounded by external factors such as unpredictable weather and economic uncertainties. Six Flags is currently grappling with a staggering $5.3 billion in debt, and its CEO, Richard Zimmerman, is slated to depart by year-end following a reported net loss of $100 million in the second quarter of 2025, alongside a 9% decline in attendance year-over-year.
In light of these challenges, Six Flags has announced the closure of one of its parks—Six Flags America in Bowie, Maryland—set for early November and plans to shut down another in Santa Clara, California, in 2027. Despite these setbacks, Speigel is optimistic that the new shareholders, including Kelce, could help revitalize the company. He pointed out that Kelce's celebrity status and relatability to younger audiences could be beneficial for the park's image during this challenging time.
Kelce's influence has already been evident in previous business ventures, as his relationship with Swift has been credited with boosting female NFL viewership and ticket sales. Recently, fans took to social media, playfully suggesting the creation of a Swift-themed park or rollercoaster, highlighting the intersection of entertainment and amusement parks.
Founded in 1961, Six Flags began with the Six Flags Over Texas park and quickly became one of America’s most iconic amusement park brands alongside Disney. However, Speigel notes that in recent years, Six Flags has struggled more than its competitors, having cycled through four CEOs since 2015. The company’s 2022 pricing strategy, aimed at attracting a wealthier demographic, alienated many of its core customers. Additionally, a series of high-profile ride malfunctions has raised safety concerns among visitors.
With attendance further impacted by extreme weather and economic instability, Speigel expressed concern about the current state of Six Flags, stating, "To see Six Flags have fallen off the precipice and down to where it is now, it's sad." He emphasized that the entire industry is rooting for their comeback.
JANA Partners has indicated its intention to engage with Six Flags' management to explore ways to enhance shareholder value and improve the overall guest experience. While NPR reached out to JANA for detailed insights regarding their plans, no response was received by publication time. Reports from the Wall Street Journal suggest that JANA aims to modernize technology, refresh leadership, and potentially evaluate a sale to enhance the company’s share price.
A spokesperson for Six Flags acknowledged the importance of shareholder perspectives and emphasized their commitment to taking feedback seriously. Speigel noted that with such considerable debt, the new investors may need to consider drastic measures, including selling off certain parks. He highlighted the critical role of foot traffic in the amusement industry, stating, "We live on repeat visitation, and repeat visitation is driven by capital improvements, new rides, and attractions."
Despite the current challenges, Speigel remains hopeful that JANA will recognize the value of Six Flags as a significant provider of family entertainment, both in the U.S. and globally. He expressed a desire for the new investors to support the company’s revival, ensuring it remains a beloved destination for families for years to come.
