NFL star Travis Kelce is teaming up with activist investor Jana Partners in a bid to help reshape the future of Six Flags Entertainment Corp.
Jana announced on Tuesday that it has partnered with Kelce, consumer executive Glenn Murphy and technology executive Dave Habiger in an investment group that now holds an economic interest of roughly 9% in the amusement park operator.
Shares of Six Flags shot up 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 guest experience,” Jana said.
Kelce, who won two Super Bowls with the Kansas City Chiefs and is the fiancée of pop star Taylor Swift, said the partnership was also personal.
“I am a lifelong Six Flags fan and grew up going to these parks with my family and friends,” he said in a statement. “The chance to help make Six Flags special for the next generation is one I couldn’t pass up.”
The move comes as Six Flags looks to reinvigorate attendance and profitability following years of leadership changes and a pandemic-driven slump. The stock is still down about 48% this year even with Tuesday’s boost.
The firm’s managing partner, Scott Ostfeld, revealed the investment at the 13D Monitor Active-Passive Investor Summit Tuesday. The Wall Street Journal first reported the move.
