Kevin Durant-Led Group Buying 515-Acre Former Six Flags In Maryland
NBA superstar Kevin Durant is leading a team of investors to buy and redevelop the shuttered Six Flags amusement park in the county where he grew up.
Six Flags Entertainment Corp. selected a partnership of Durant's investment firm, 35V, and Atlanta-based TPA Group as the buyer for the 515-acre property in Prince George's County, the buyers announced in a release Wednesday.
Six Flags put the property up for sale in May ahead of the park's closure in November. The selection of 35V and TPA Group came after a "a comprehensive process to identify a development team with the experience, long-term vision, and commitment to community partnership necessary to guide the site’s next chapter," according to a release.
It didn't detail the plans for the site, but statements from the partners indicated it will be a large project that could have a significant impact on the surrounding area.
"We have been invested in the Prince George’s County community for many years, and to be able to build something that combines scale with real impact was an opportunity we couldn’t pass up," Rich Kleiman, who co-founded 35V alongside Durant, said in a statement. "We’re looking forward to working with our partners at TPA and the entire community to create positive economic opportunity for the region."
Durant, 37, grew up in Seat Pleasant, Maryland, and played high school basketball at Montrose Christian in Rockville.
He was selected No. 2 in the 2007 NBA draft and has played for several teams, winning two championships with the Golden State Warriors. He has also won four Olympic gold medals as part of Team USA. He now plays for the Houston Rockets.
Durant's career earnings on the court, at the end of his current contract, will reach $598.2M, an all-time NBA record, according to ESPN. He made $50M off the court in 2024 alone, tied for fifth-most of any athlete in the world, according to Forbes.
The superstar has also been active in the business world. He and Kleiman founded 35V in 2016, and it now holds investments in more than 100 companies, including sports leagues and teams. It is affiliated with the Durant Family Foundation, whose president, Wanda Durant, Kevin's mother, is also involved in the Six Flags redevelopment.
"This land represents decades of memories for families across the region," Wanda Durant said in the release. "As we look ahead, it’s essential that what comes next honors that legacy by creating new opportunities for residents — especially young people — and strengthens the community for years to come."
In a separate release, Prince George's County Executive Aisha Braveboy said she is "excited about the vision, energy, and opportunity this new ownership team brings to the former Six Flags site."
"This is a major step forward for Prince George’s County and a meaningful opportunity to elevate this property into a destination development that reflects the expectations of our residents and strengthens economic development in our County."
Six Flags has been offloading properties across the country as it faces pressure from an activist investor. On Wednesday, it announced it closed the sale of parks in Minnesota, Michigan, Texas, New York and two in Missouri to EPR Properties.
TPA Group, a private real estate developer led by J. Bradford Smith, has invested more than $40B in over 300 projects, according to its website. Its developments include master-planned communities, multifamily, office, industrial, digital infrastructure and self-storage uses.
