JANA Partners Says One Member of Six Flags Investor Group (Not Travis Kelce) Has Moved On

Nov. 13, 2025

— Jeff Ward, Lehigh Valley News Briefs

JANA Partners, which has a 9% stake in Six Flags Entertainment, said today that one member of its team has left to consider another opportunity involving the amusement-park company.

The one who “de-grouped” as JANA puts it in its statement is not the headliner, Travis Kelce of the National Football League’s Kansas City Chiefs.

JANA said Dave Habiger has to left to “enable him to pursue a complementary opportunity involving the Company.”

Kelce, a tight end and a big fan of amusement parks, abides. He hasn’t “de-grouped.”

Habiger has a lengthy list of business accomplishments but he doesn’t take the field for the NFL on Sundays.

The news didn’t do much for Six Flags shares (NYSE:FUN). They dropped $1.09 to $15.06 as of 4 p.m., just 25 cents above the 52-week low.

Six Flags’ third-quarter results last week helped bring the stock down, along talk of selling some parks.

Six Flags Entertainment was created in 2024 by the combination of the old Six Flags and Cedar Fair. Six Flags owns Dorney Park & Wildwater Kingdom in South Whitehall Township, Great Adventure in New Jersey.

The deal hasn’t worked out and the company has about $5 billion in debt.

Six Flags owns 26 amusement parks, 15 water parks and nine resort properties in the U.S., Canada and Mexico.

JANA Partners is an activist investor, meaning it looks for companies it considers to be undervalued, buys stakes in them and tries to boost their value.

Here is a link to the JANA statement, and below is a cut-and-paste snippet:

NEW YORK, Nov. 13, 2025 /PRNewswire/ — JANA Partners LLC (“JANA”), which along with its partners collectively own an economic interest of approximately 9% in Six Flags Entertainment Corporation (NYSE: FUN) (“Six Flags” or the “Company”), today announced that Dave Habiger has de-grouped from the JANA-led investor group to enable him to pursue a complementary opportunity involving the Company.

About JANA Partners
JANA Partners was founded in 2001 by Barry Rosenstein. JANA invests in undervalued public companies and engages with management teams and boards to unlock value for shareholders.