Kansas City Chiefs star (and Taylor Swift’s fiancé) Travis Kelce is getting into the activist investing business.
The NFL athlete, podcast host and burgeoning actor joined the activist investment firm Jana Partners in a bid to seek an overhaul of Six Flags, the theme park company that owns Knott’s Berry Farm, Cedar Point and Six Flags amusement parks across the country.
Jana disclosed that it now holds approximately 9 percent of Six Flags shares, alongside Kelce, former Gap CEO Glenn Murphy and tech executive and former J.D. Power CEO Dave Habiger. The firm says it plans “to engage with the company’s board of directors and management regarding opportunities to enhance shareholder value and improve the guest experience.”
“I am a lifelong Six Flags fan and grew up going to these parks with my family and friends,” said Travis Kelce in a statement. “The chance to help make Six Flags special for the next generation is one I couldn’t pass up.”
Kelce grew up in Ohio, not far from Cedar Point.
“We look forward to working with the Six Flags board and management to unlock shareholder value for the benefit of all stakeholders,” added Jana managing partner Scott Ostfeld.
The current iteration of Six Flags was created last year in an $8 billion merger between Six Flags and Cedar Fair, creating a theme park behemoth that spans the country.
Kelce may seem like an unusual choice for an activist campaign, but generating attention in today’s investing environment is half the battle, and the star might be able to get shareholders to buy in and perhaps Six Flags executives or board members. Kelce could also become a public face of the effort.
Source link
