When a company with $5.3 billion in debt and a 47% stock collapse attracts a hedge fund and an NFL star, it’s not charity, it’s strategy. Jana Partners and Travis Kelce are betting they can turn Six Flags from a sinking relic into a comeback story worth watching.
Investors step in and take control of a company only when something has gone horribly wrong. If a company has $5.3 billion in debt and its stock price drops by 47%, it becomes evident that its strategy is inefficient. That’s why Jana Partners and Travis Kelce are getting involved; they see an opportunity to turn Six Flags around. Six Flags consists of 42 amusement and water parks across North America, according to NPR. It is one of the most well-known amusement parks in the industry across North America. However, Six Flags has been in a steep decline: attendance is down, it feels outdated, and investors are worried. According to Reuters, Jana Partners and Travis Kelce hold a 9% stake of Six Flags, and seek to improve it. Six Flags has a big opportunity to return to the amusement park it once was, thanks to Jana Partners’ efficient money management and Travis Kelce’s cultural reach. Together, the team creates a great balance that could be the turning point of Six Flags’ recent decline.
Six Flags had a $319.4 million loss in the first half of 2025. On top of their financial struggles, Six Flags’ attendance dropped 9 percent in the second quarter of 2025.
