Home / Business and Economy / Kelce's $200M Six Flags Investment Faces Major Loss
Kelce's $200M Six Flags Investment Faces Major Loss
26 Sep
Summary
- Six Flags reported a $202.62 million loss in Q2.
- The company's net debt is nearing $4.9 billion.
- Six Flags faces multiple lawsuits, including wrongful death.
Travis Kelce's substantial $200 million investment, made alongside JANA Partners in Six Flags, is facing significant financial headwinds. The theme park operator reported a substantial second-quarter loss of $202.62 million, a sharp increase from the $99.65 million loss recorded in the same period last year. Furthermore, Six Flags' net debt has ballooned to approximately $4.9 billion, raising concerns among its investors.
Adding to its troubles, Six Flags is embroiled in multiple legal disputes. A wrongful death lawsuit has been filed by the family of Christopher Howley, who died after riding the X2 attraction. Three other individuals are also suing the company, alleging brain damage from the same ride. The X2 ride has been closed since July after two passengers required brain surgery.
Amidst these financial and legal challenges, JANA Partners has reportedly urged Six Flags to explore a sale to improve its revenue. JANA Partners has stated its commitment to acting in the best interests of all shareholders and engaging constructively with them. Travis Kelce has maintained his focus on his professional football career with the Kansas City Chiefs and has not commented on the situation surrounding Six Flags.
