Rashee Rice Files for Chapter 7 Bankruptcy in Federal Court

Kansas City Chiefs wide receiver Rashee Rice filed for Chapter 7 bankruptcy in federal court on Wednesday, listing more than $3.45 million in debts, according to court documents cited by RDS in a report drawing on ESPN. The 26-year-old Rice reported that over $2.1 million of those debts are tied to multiple plaintiffs who sued him in civil proceedings that have been settled or remain pending judgment.

The filing comes as Rice faces the financial fallout from a multi-car, high-speed crash in Dallas in 2024, for which several people sued him over his role in the incident. A former girlfriend has also filed a complaint alleging repeated assaults from 2023 to 2025.

Rice Lists $677,054 in Personal Assets Against the Debts

In the bankruptcy petition, Rice reported $677,054 in personal property, including $421,825 in deferred compensation, and $13,640 in checking accounts. He said he rents his residence and does not own property. Of his personal assets, $39,241 were declared non-exempt — meaning they could be used to pay creditors under Chapter 7, the provision for individuals who cannot pay their debts and agree to liquidate non-exempt assets.

The largest single creditor listed is owed $979,837, a sum that remains unpaid under a settlement reached in 2025 for the car crash. Rice also disputes potential debts tied to civil lawsuits, including a combined $700,000 in claims filed by victims of the 2024 crash and $200,000 for the assault lawsuit.

Super Bowl LVIII Ring Used as Collateral

According to the documents, Rice pledged his Super Bowl LVIII ring, which he valued at $160,000, as collateral to Thomas McMurray, the attorney handling his ongoing civil cases.

Final Contract Year Looms With $1.56 Million Base Salary in 2026

Rice is playing the final year of his rookie contract with the Chiefs and is scheduled to earn a $1.56 million base salary in 2026. He played in five games this season, catching 20 passes for 243 yards and two touchdowns—numbers that highlight the gap between his performance and the legal issues now facing the bankruptcy court.

The Chapter 7 filing sets the stage for the liquidation of Rice’s non-exempt assets and the resolution of the disputed claims, with the 2026 contract year and the pending civil judgments marking the next checkpoints in his financial and legal calendar.