Rashee Rice Files for Bankruptcy With $3.4M Debt, Collateralized His Super Bowl Ring
The Chiefs wide receiver claims $3.45 million in debt, listing his Super Bowl ring as collateral and showing just $13k in cash.
Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy, claiming he owes more than $3.45 million. According to court records cited by ESPN [2], the filing was lodged in the Northern District of Texas on Wednesday, revealing a financial landscape that is far more precarious than his on-field success might suggest.
TMZ Sports reported [1] that Rice claims to have just $13,640 in his checking accounts, despite being in the final year of a rookie contract worth over $6 million. The filing, which ESPN [2] notes details Rice’s personal assets, shows he claims only $677,054 in total assets, with $39,241 of that considered nonexempt.
A significant portion of the debt stems from the high-speed multicar crash Rice caused in Dallas in 2024. ESPN [2] reports that more than $2.1 million of the debt is tied to civil lawsuits, either settled or awaiting trial. This includes nearly $980,000 owed from a civil settlement related to the crash, as noted by TMZ [1], and disputed claims totaling hundreds of thousands more.
In a striking detail, Rice listed his Super Bowl LVIII ring, valued at $160,000, as collateral for his attorney, Thomas McMurray, who is handling the pending civil litigations. TMZ [1] highlighted that the ring is being used to secure legal services while Rice’s cash reserves remain low.
Rice, 26, has faced legal turmoil beyond the crash. TMZ [1] reported that he served 30 days in jail earlier this year for violating probation stemming from the incident, an experience he called a "reality check." He was also sued by ex-girlfriend Dacoda Jones for alleged physical abuse, a claim he disputed and which led to no NFL discipline.
ESPN [2] notes that Rice’s bankruptcy attorney, David Shuster, and the Chiefs organization declined to comment on the filing. Despite the financial strain, Rice is expected to earn $1,560,711 in base salary this season. He has appeared in five games, recording 20 catches for 243 yards and two touchdowns, according to ESPN.
Sources
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