Kansas City Chiefs star Travis Kelce is facing new scrutiny connected to a business venture involving the Six Flags amusement park chain. The criticism does not center on the tight end directly but instead comes from the hedge fund group that partnered with him on the investment.

Kelce joined an investment group that acquired a significant stake in Six Flags last year. Now, that same group is raising concerns about how the amusement park company is being run.

Hedge Fund Criticizes Six Flags Board After Travis Kelce Investment

In October 2025, Kelce teamed up with hedge fund Jana Partners, consumer executive Glenn Murphy, and technology executive Dave Habiger to purchase a 9 percent stake in Six Flags.

However, Reuters reported that representatives from Jana Partners recently sent a letter to Six Flags’ board of directors expressing serious concerns about the company’s leadership.

The letter reportedly described “an alarming pattern of board dysfunction and disjointed decision-making that has become impossible to ignore.”

Jana Partners also questioned the board’s ability to deliver results for shareholders.

According to Reuters, the letter called for new leadership at the company and even suggested selling Six Flags entirely.

The letter surfaced during a period of major change for the amusement park company.

Six Flags recently appointed a new CEO, John Reilly, a leadership move that Jana Partners has previously supported.

Six Flags Changes Strategy After Park Closures and Sales

Six Flags has also begun restructuring parts of its business.

Earlier this month, the company announced plans to sell seven properties across North America. The decision came just months after Six Flags permanently closed Six Flags America in Maryland in November 2025.

In a press release, the company explained the move as part of a broader strategy shift.

“Today, we’re sharing an important update about the future of Six Flags — one that strengthens our foundation, sharpens our focus, and supports long-term growth across our parks,” the company said.

The parks included in the sale announcement were Michigan’s Adventure in Muskegon, Michigan; Schlitterbahn Galveston in Texas; Six Flags Great Escape in Queensbury, New York; La Ronde in Montreal; Six Flags St. Louis in Missouri; Valleyfair in Minnesota; and Worlds of Fun in Kansas City, Missouri.

Entertainment Weekly previously reported that trademark filings earlier this year hinted at potential branding changes tied to some of these properties.

Documents reviewed by the outlet referenced the name “Enchanted Parks” and included filings connected to several existing Six Flags locations.

The filings also referenced names such as Enchanted Parks Water Safari and Enchanted Parks Water’s Edge Inn, though Six Flags does not currently operate attractions with those names.

The filings suggested potential restructuring or rebranding tied to parks in the company’s portfolio.

Travis Kelce Previously Celebrated Six Flags Investment

Kelce publicly celebrated the investment when it was first announced.

In a message shared on Instagram, the Super Bowl champion expressed excitement about partnering with Jana Partners and investing in the amusement park industry.

“Couldn’t pass up the opportunity to continue the tradition and make Cedar Point and Six Flags even more special for the next generation of families!” Kelce wrote at the time.

“Excited to partner with Jana Partners as an investor in Six Flags,” he added. “So crazy to even imagine this is real, but you gotta love it when life comes full circle.”

Kelce remains focused on football as well.

The Chiefs recently signed the 36-year-old tight end to a one-year contract that will keep him in Kansas City for a 14th NFL season.

The deal includes $12 million fully guaranteed, including $3 million in base salary and $9 million tied to roster bonuses.

Additional incentives are tied to the Chiefs reaching the playoffs and potentially returning to the Super Bowl.