Chiefs wide receiver Rashee Rice files for bankruptcy, lists Super Bowl ring as collateral

The filing

Chiefs wide receiver Rashee Rice filed for Chapter 7 bankruptcy on Wednesday, 4 November, in the U.S. Bankruptcy Court for the Northern District of Texas. Chapter 7 is the form for people who cannot pay their debts and are prepared to hand over their non-exempt assets to creditors, and Rice listed $39,241 of his personal property as falling outside that protection. The 26-year-old is in the final year of his rookie contract. Liability figures vary by outlet: The New York Times reports $3.46 million, N-tv reports more than $3.45 million, Spiegel Online reports $3.45 million, and Bloomberg reports $3.5 million. The filing declares personal assets of $677,054, while Bloomberg describes assets as between $500,000 and $1 million.

The 2024 crash and criminal case

Court records tie most of the debt to civil suits that stem from a high-speed crash in Dallas in 2024. Spiegel Online reports that Rice's Lamborghini SUV was clocked at about 192 kilometres per hour on a Dallas highway, and that several people were injured in the multi-vehicle crash that followed. He first fled on foot and later turned himself in. Rice pleaded guilty to two third-degree felonies in July 2025 and was sentenced to five years of probation and 30 days in jail. Spiegel Online adds that he was suspended for the first six games of the 2025 NFL season.

Claims and debts

According to N-tv, about $2.1 million of the debts come from several lawsuits, some settled and some still running. The largest claim, $979,837, is owed to a crash victim under a settlement closed in 2025, and Rice has been repaying that victim through garnishment of his Chiefs paychecks, which totalled $206,673.81 between 2025 and 2026, according to the filing as reported by The New York Times. He disputes a $350,000 claim from another crash victim and a $200,000 claim from his former girlfriend, who accused him of abuse in February and filed a civil suit. The filing also lists $207,104.40 owed to First National Bank of Middle Tennessee on a business-debt personal guarantee, and $140,150 owed to First National Bank in Killeen, Texas, on an unsecured loan.

Crash victim, settled in 2025979,837

Crash victim, disputed claim350,000

Former girlfriend, disputed claim200,000

Crash victim, settled in 2025

979837 US$

Crash victim, disputed claim

350000 US$

Former girlfriend, disputed claim

200000 US$

Data from the article text

The ring and the lawyers

Rice's Super Bowl LVIII ring, valued at $160,000, is being held as collateral for money he owes his attorney Thomas McMurray, who represents him in the pending civil cases. The filing shows Rice owes McMurray $185,226.45 in total. Other assets include a 2023 Mercedes-Benz estimated at $53,800, a combined $13,600 across three checking accounts, and $421,825 in expected deferred compensation. Rice's bankruptcy lawyer, David Shuster, and the Chiefs declined to comment, according to N-tv.

Income and next season

Rice's base salary is reported in two figures: $1.635 million plus a $430,949 signing bonus this season, according to Over the Cap as cited by The New York Times and Bloomberg, and about $1.56 million according to Spiegel Online. Bloomberg, citing Over the Cap, notes that if Rice stays healthy and productive, next season could bring a much bigger payday, when the Chiefs could consider placing the franchise tag on him. Rice returned from a two-week absence with a hamstring injury and recorded seven catches for 53 yards and a touchdown.