Harvey Schiller
About Harvey Schiller
Harvey Schiller is Chief Executive Officer of Goal Acquisitions Corp. (PUCK), serving since November 2020. He is 85 years old, a distinguished graduate of The Citadel, and holds a PhD in Chemistry from the University of Michigan . PUCK operates as a SPAC, and the company has not disclosed TSR, revenue growth, or EBITDA growth metrics attributable to Schiller’s tenure; executive officers have not received cash compensation prior to a business combination .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Southeastern Conference | Commissioner | 1986–1990 | Led conference governance; not further detailed in filings |
| United States Olympic Committee | Executive Director | 1990–1995 | Oversight of USOC operations; not further detailed in filings |
| Turner Sports | President | 1995–2000 | Led Turner Sports operations |
| Atlanta Thrashers (NHL) | President | 1997–1999 | Led franchise operations |
| YankeeNets | Chairman | 2000–2002 | Ownership group of Yankees/Devils/Nets; developed YES Network (2001–2002) |
| Assante USA (financial services) | Chairman | 2002–2004 | Led financial services firm |
| GlobalOptions (security firm) | Chairman | 2006–2013 | Led security firm |
| America’s Cup | Commissioner | 2015–2017 | Oversight of event governance |
| U.S. Air Force | Pilot; Permanent Professor (USAFA) | 1962–1986; 1980–1986 | Distinguished military career; Presidential-appointed permanent professor |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Mesa Air Group | Lead Director | 2015–present | Public company board leadership |
| Blinktbi | Board Member | 2018–present | Board service |
| SportsGrid | Chair | 2018–present | Media/sports platform |
| Collegiate Sports Management Group | Chair | 2018–present | Collegiate sports media/rights |
| Diversified Search Group | Vice Chairman (digital/media/sports practice) | 2015–present | Executive search leadership |
| Charlestowne Holdings | Chairman | 2018–present | Financial advisory leadership |
Fixed Compensation
| Component | 2023 | 2024 | 2025 | Notes |
|---|---|---|---|---|
| Base Salary | Not paid | Not paid | Not paid | No executive officer has received cash compensation prior to business combination |
| Target Bonus % | Not disclosed | Not disclosed | Not disclosed | SPAC structure; compensation deferred until post-merger |
| Actual Bonus Paid | None | None | None | No cash bonuses pre-business combination |
| Cash Fees/Perquisites | None reported | None reported | None reported | Out-of-pocket expenses reimbursable; no cap, subject to audit committee review |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Pre-business combination incentives | N/A | N/A | N/A | None | Founder shares subject to transfer restrictions until after completion of business combination |
| Post-business combination consulting/management fees | N/A | N/A | N/A | Potential fees after closing; amounts unknown at vote time | Determined by post-combination board; disclosed when determined |
None of the filings disclose specific PSU/RSU or option awards, performance metric weightings, or payout formulas for Schiller prior to a business combination .
Equity Ownership & Alignment
| As-of Date | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Oct 24, 2023 | 560,000 | 6.9% | Does not include any securities held by Goal Acquisitions Sponsor LLC; Schiller disclaims beneficial ownership of sponsor-held securities |
| Jan 26, 2024 | 560,000 | 7.4% | Same sponsor disclaimer applies |
| Jul 8, 2024 | 560,000 | 7.47% | Same sponsor disclaimer applies |
| Apr 18, 2025 | 560,000 | 7.5% | Same sponsor disclaimer applies |
| Alignment Factor | Detail |
|---|---|
| Founder shares lock-up | Founder shares may not, subject to limited exceptions, be transferred, assigned, or sold until after completion of a business combination |
| Sponsor earnout (indirect exposure) | 1,293,750 ordinary shares of the post-combination company to be released to the Sponsor if a share price milestone is met; Schiller is a member of the Sponsor but disclaims beneficial ownership under “rule of three” |
| Hedging/Pledging disclosure | Not disclosed in filings reviewed |
Employment Terms
| Term | Disclosure |
|---|---|
| Start date | CEO since November 2020 |
| Contract term; severance; change-of-control | Not disclosed in reviewed filings (SPAC structure emphasizes minimal pre-merger compensation) |
| Auto-renewal | Not disclosed |
| Non-compete / non-solicit | Not specifically disclosed; corporate opportunity renunciation and conflicts framework set by Charter and Delaware law |
| Expense reimbursement | Entitled to reimbursement for out-of-pocket expenses; audit committee reviews quarterly; no cap stated; repayment negotiated contingent on business combination; no claim on Trust if deal fails |
| Sponsor liability | Sponsor agreed to be liable under certain circumstances to ensure Trust proceeds are not reduced by certain claims |
| Extensions and termination date | Charter amendments extended termination date to Aug 8, 2024 and subsequently to Feb 8, 2026; Schiller signed related amendments |
Related Party and SPAC Structure Highlights
- Founder shares: Initial stockholders paid $25,000 for 5,750,000 shares; later increased to 6,468,750 via stock dividend; sponsor transferred 2,354,000 founder shares to officers, directors, and advisors in Dec 2020 (individual allocation not itemized) .
- Private placement units: Sponsor purchased 667,500 private units for $6,675,000; warrants at $11.50 strike; transfer restricted .
- Voting control: On certain record dates, insiders and sponsor controlled >95% of voting power, enabling passage of adjournment/extension proposals .
- Liquidation incentive: If termination date lapses without a business combination, founders’ shares and private placement units become worthless, creating strong incentives to extend and close a transaction .
Risk Indicators & Red Flags
- Pay-for-performance alignment risk: Pre-merger compensation is entirely equity-linked via founder shares that go to zero upon liquidation, which can bias decision-making toward completing any transaction rather than optimizing long-term value .
- Disclosure gaps: No disclosed base salary, bonus targets, RSU/PSU grants, or clawbacks pre-merger; limited transparency on individual severance/change-of-control economics .
- Concentrated voting control: Sponsor and insiders held >95% voting power at key dates, reducing minority shareholder influence on extensions and amendments .
Investment Implications
- Alignment is primarily through founder-share exposure and potential sponsor earnouts; the economic consequence of failure to consummate a business combination (founder shares becoming worthless) creates acute insider pressure to extend and close, a classic SPAC incentive dynamic .
- Lack of disclosed cash compensation, performance metrics, or clawbacks pre-merger limits traditional pay-for-performance analysis; monitor post-combination board determinations for consulting/management fees and any equity grants to assess ongoing alignment .
- Schiller’s 560,000-share direct beneficial stake (≈7.5% as of April 18, 2025) provides meaningful skin-in-the-game, but sponsor interests and concentrated voting power can outweigh minority holder preferences during extensions and deal approvals .
- Governance framework renounces certain corporate opportunities and acknowledges external affiliations; investors should monitor potential conflicts and the quality of target selection/execution as the key driver of value creation in the absence of disclosed operating performance metrics .