Gaffney was born on February 1, 1954, in Jacksonville, Florida.[2] He was an All-Southeastern Conference (SEC) selection at quarterback, and led the Gators to three bowl games (Tangerine Bowl, Sugar Bowl, and Gator Bowl) as their starting quarterback from 1973 until 1975. His younger brother Derrick Gaffney also had a successful collegiate football career.[3] His brothers Warren and Johnny also played football for the Florida Gators.[2]
Gaffney served on the Jacksonville City Council from 1983 until 1986. He was elected to Florida House in 1986.
In 1987 he was accused of mail fraud and extortion in an insurance scam in which he claimed his business was burglarized. He was found guilty and sentenced to two years in prison. He resigned his House seat on April 1, 1988.[2][4]