William Duffy

About William Duffy

William T. Duffy is Chief Financial Officer and Chief Operating Officer of PUCK (Goal Acquisitions Corp.), a SPAC focused on sports and media assets. He previously served as CFO/EVP for multiple professional sports organizations (San Francisco 49ers, Florida Panthers, Atlanta Spirit LLC), CAO at the Buffalo Bills, and held leadership roles at Bobcats Sports & Entertainment, alongside founding and leading Aspire Sports Marketing Group; he holds an MS in Accounting (NYU), an AB in Economics (Princeton), and is a CPA . As a SPAC, PUCK has no operating revenues, and its securities were delisted from Nasdaq in July 2024 and now trade on OTC Pink, reflecting execution and liquidity risks during Duffy’s tenure .

Past Roles

External Roles

Fixed Compensation

• PUCK discloses that officers and directors (including Duffy) receive no cash compensation of any kind prior to or in connection with completing an initial business combination; only reimbursement of out‑of‑pocket expenses is permitted .

Performance Compensation

• No annual or long‑term incentive plans (bonus, RSUs, PSUs, options) for PUCK officers are disclosed prior to business combination; compensation for management post‑combination would be determined by the combined company’s board and not known in advance .
• Sponsor earnout mechanics (not directly Duffy’s beneficial ownership) include 1,293,750 Sponsor Earnout Shares released if the post‑combination share price is ≥$15.00 for 20 out of 30 trading days through Dec 31, 2026; sponsor also forfeits 646,875 shares at closing. Duffy is a manager of the Sponsor but is not deemed a beneficial owner of sponsor securities under the “rule of three” .

Equity Ownership & Alignment

• PUCK’s initial stockholders (including management) waived liquidation rights on founders’ shares; founders’ and private placement securities may not be transferred prior to a business combination, aligning insiders to deal completion .
• Duffy, Alex Greystoke, and Raghu Kilambi comprise the Sponsor’s Board of Managers; due to the “rule of three,” none is deemed a beneficial owner of Sponsor securities, reducing direct attribution of sponsor holdings to Duffy .
• No pledging or hedging by Duffy is disclosed in the Beneficial Ownership sections of the 2024/2025 proxies reviewed .

Employment Terms

• No employment agreements or key‑man insurance for officers; Duffy’s service time is variable and not full‑time, consistent with SPAC structure .
• Officers/directors are eligible only for reimbursement of out‑of‑pocket expenses incurred in identifying/investigating business combinations; no fees or compensation prior to business combination .
• Post‑combination compensation, if any, would be determined by the combined company’s board and disclosed at that time .
• No severance, change‑of‑control, or clawback provisions are disclosed for PUCK officers in the documents reviewed .

Performance & Track Record

• PUCK’s securities were delisted from Nasdaq effective July 8, 2024, now quoted on OTC Pink, citing failure to complete a business combination within 36 months and other listing deficiencies. Shares traded at $10.80 on July 19, 2024 and $13.00 on April 17, 2025 (context for trust redemption comparisons), highlighting liquidity and execution risks during the SPAC’s extended lifecycle .
• The Board approved the Digital Virgo business combination; Digital Virgo purported to terminate in July 2023, leading to ICC arbitration (hearing March 31, 2025; decision expected before end of 2025). PUCK continues to evaluate alternative targets and obtained stockholder approvals to extend the SPAC termination date (currently February 8, 2026) .

Board Governance (Context)

• Insiders and affiliates held ~95%+ of voting power at record dates (July 12, 2024; April 16, 2025), enabling passage of extension proposals and demonstrating concentrated insider control typical of late‑stage SPACs .
• Post‑combination investor rights contemplated a 13‑member board for the combined entity, with Sponsor proposing up to five directors (subject to ownership thresholds), indicating governance influence through sponsor arrangements (not direct to Duffy as an individual) .

Related Party & Conflicts

• Officers/directors share interests in completing a combination: founders’ shares and private units become worthless upon liquidation, and Sponsor indemnities have limits; these structural incentives could influence timing/terms of transactions .
• Expense reimbursement is permitted; otherwise, no fees/compensation to Sponsor, officers, directors, or affiliates prior to business combination .

Investment Implications

• Pay‑for‑performance alignment: Duffy’s direct ownership (250k shares) and founders’ transfer restrictions align insiders to completion of a transaction; however, the low cash compensation structure and concentrated insider control may amplify deal‑completion incentives over deal quality .
• Retention risk appears low given SPAC norms (variable service, no employment agreements), but execution risk remains high given arbitration uncertainty with Digital Virgo and reliance on extensions to February 8, 2026 .
• Trading/liquidity signal: Delisting to OTC Pink and very small public float (173,017 public shares at the April 16, 2025 record date) imply thin liquidity and potential volatility around corporate events and trust redemptions .
• Post‑combination overhangs: Sponsor earnout share triggers and lock‑ups could create future supply once milestones are met; Duffy is not deemed a beneficial owner of sponsor securities, but sponsor governance influence may shape post‑deal dynamics .

Note: PUCK is a SPAC with no operating revenues and minimal ongoing operations; officer compensation and incentives are primarily structural (founders/sponsor holdings, transfer restrictions, and earnout constructs), not cash‑based pay plans. All claims above reflect disclosures in PUCK’s 10‑K (FY 2023) and DEF 14A special‑meeting proxies (2024, 2025).