Six Flags faces debt crisis as Travis Kelce-backed firm considers park sales
The amusement park operator is managing nearly $5 billion in debt while evaluating its property portfolio to improve finances.
Six Flags is facing significant financial pressure as it manages nearly $4.92 billion in total debt, according to a report by the Times of India. The company reported $4.66 billion in net debt as of September 27, 2026, and saw its third-quarter revenue drop 11 per cent year over year to $1.17 billion.
The company has already completed a $331.4 million transaction to sell seven regional parks. Management is now looking at other real estate and properties to strengthen its financial position, with CEO John Reilly stating that optimising the portfolio is a key objective.
Industry discussions have identified Cedar Point and Kings Island as potential candidates for sale, though neither has been officially named as a target. Additionally, California's Great America will conclude its operations in 2027 because the company chose not to renew its lease.
NFL player Travis Kelce is an investor and brand ambassador for the company. On October 21, 2025, Kelce joined executives Glenn Murphy and Dave Habiger, along with activist investment firm Jana Partners, in a group that acquired an approximately 9 per cent economic interest in Six Flags.
Kelce, who became an official brand ambassador in March 2026, said that the parks were a hallmark of his childhood and he was excited to team up with the company. The investment group originally aimed to improve shareholder value and the guest experience.