Travis Kelce joins activist investor Jana Partners to revive Six Flags

NFL star Travis Kelce teams up with activist investor Jana Partners in an effort to help reshape the future of Six Flags Entertainment Corp..

Jana announced Tuesday that she has joined forces with Kelce, chief consumer officer Glenn Murphy and chief technology officer Dave Habiger in an investment group that now holds an economic stake of about 9 percent in the amusement park operator.

Shares of Six Flags jumped more than 15% Tuesday following the news.

The group plans to engage with Six Flags’ board and management to explore ways to “enhance shareholder value and improve the customer experience,” Jana said.

Kelce, who won three Super Bowls with the Kansas City Chiefs and is the fiancée of pop star Taylor Swift, said the partnership was also personal.

“I have been a lifelong fan of Six Flags and grew up going to these parks with family and friends,” he said in a statement. “I couldn’t pass up the opportunity to help make Six Flags special for the next generation.”

The move comes as Six Flags seeks to reinvigorate attendance and profitability after years of management changes and a crisis brought on by the pandemic. The stock is still down about 48% this year, even with Tuesday’s rise.

The firm’s managing partner, Scott Ostfeld, revealed the investment Tuesday at the 13D Monitor active-passive investor summit. The Wall Street Journal was first to report the decision.

Correction: Travis Kelce won three Super Bowls with the Kansas City Chiefs. An earlier version incorrectly indicated the number.