Travis Kelce’s theme park investment is in trouble (Getty Images)
A 42-year-old Atlanta educator died on Monday after being thrown from the Goliath roller coaster at Six Flags Over Georgia, and the fallout reached Wall Street within a day. Shares dropped about 14% on Tuesday. Six Flags has not posted a profitable quarter since the summer of 2024, when it closed its $8 billion merger with Cedar Fair. CNN reported this week that the stock has lost more than 80% of its value since that deal. The company lost about $203 million, more than double its loss a year earlier, and Citi analysts estimated foot traffic fell 15% from April through June. Earlier this year Six Flags sold seven parks for $331 million. Kelce joined Jana and other investors last October, and together they hold roughly 9%. Stay updated with the latest Asian Games 2026 news , check the Asian Games medal tally and complete Asian Games schedule .
Jana Partners pointed to those results in September, when it told the board to hire an investment bank and look at a sale. He called himself a “lifelong Six Flags fan” when the stake was announced. Georgia’s insurance and fire safety commissioner has opened an investigation, and Six Flags says it is “deeply saddened” and cooperating. It also faces lawsuits over injuries on X2 at Magic Mountain, a ride it said last month it will retire. The company says X2 passed required safety tests, and nothing connects those claims to Georgia.
The park chain closed nine similar coasters across six parks while investigators work. The timing is awkward for Travis Kelce , who holds a stake in the company alongside activist fund Jana Partners. Jana had already asked Six Flags to explore a sale last month. Now the board has a fatality inquiry to handle too. The trouble did not start in Georgia. The second quarter made it worse. In March the company named him a brand ambassador. So he is both a public face of the brand and part of a group pushing for change. So the Georgia death did not interrupt a recovery. It landed on a company whose own investor group was already asking if it should stay independent. Police say Hassan Jihad Ibn Kariem was ejected from Goliath, struck other riders and fell under the ride. Why he left his seat is still unknown. Join conversation Share your thoughts in the comments Be respectful · TOI community guidelines Nothing public links the death to cost cutting or maintenance, and it would be wrong to suggest otherwise. Management still has to cooperate with investigators and win back nervous customers while a major shareholder argues for new ownership. Six Flags has warned before that its liability insurance may not cover every claim, and the cost of this case is unknown. For Jana, the pressure cuts both ways. A weaker stock strengthens the argument for new owners. But a buyer would have to price in an open fatality investigation and any legal costs that follow, which can make a deal harder, not easier. The Georgia park reopens Friday, and Goliath will stay closed. Get the latest Sports News and Live updates. Download the TOI app.