Redskin Owner Buys 8.8% Stake in Six Flags

Daniel Snyder, owner of the Washington Redskins football team, bought an 8.8% stake in Six Flags Inc., which operates amusement parks in the U.S. and Europe.

Snyder, who said the stock was undervalued, may seek a spot on the board of Oklahoma City-based Six Flags or try to influence the company’s management, he said in a filing with the Securities and Exchange Commission. Snyder may also encourage Six Flags to sell assets or refinance, the filing said.

Snyder’s Red Zone bought 8.15 million Six Flags shares Aug. 11 through Monday for about $34.5 million, the filing said. Six Flags shares fell 26 cents to $4.46 on the NYSE before the news.