Rashee Rice Files for Chapter 7 Bankruptcy Following Easter 2024 Crash
Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy in Dallas, federal court documents filed Wednesday show, as financial liabilities mount from a multi-vehicle collision he caused nearly two years ago.
KCTV reported that Rice filed the petition on Nov. 4 in the Federal Bankruptcy Court in the Northern District of Texas. The court filings reveal that the fourth-year wide receiver lists just over $675,000 in assets while facing debts exceeding $3.2 million owed to 20 creditors, stemming primarily from settlements and legal fees tied to a six-car crash on Easter morning in 2024.
Assets and Income Disclosed in Court Filings
Among the assets recorded in the bankruptcy schedules are a Mercedes-Benz valued at $53,800, more than $420,000 in deferred compensation, and his Super Bowl LVIII ring. The championship ring, earned during his rookie season after being selected in the second round of the 2023 NFL Draft, is listed with a value of $160,000. Rice did not list any real estate holdings in the filing, and his liquid cash totaled $13,640 distributed across three bank accounts.
On the income ledger, court documents state that Rice has earned $1.25 million so far in 2026. According to Spotrac data, he signed a four-year, $6.5 million rookie contract to begin his professional career.
| Financial Metric | Amount Listed |
|---|---|
| Total Assets | $675,000 |
| Total Liabilities | $3.2 million (20 creditors) |
| 2026 Reported Income | $1.25 million |
On-Field Availability and Future Contract Outlook
The financial restructuring arrives as Rice approaches unrestricted free agency at the conclusion of the 2026 NFL season. His market value and ability to secure a major second contract remain complicated by a combination of legal fallout and durability concerns. Following the 2024 crash, Rice pleaded guilty to two felony charges. Over his four-year career, he has missed 27 games due to a mix of suspensions and injuries.
During the current 2026 campaign, a hamstring injury has sidelined Rice for multiple contests. In the games he has managed to play, he has recorded 20 receptions for 243 yards and two touchdowns. The Chiefs are scheduled to play the New York Jets on Sunday at 12 p.m., though questions persist regarding how long legal proceedings and financial scrutiny will follow the receiver through the remainder of his contract year.
Chiefs WR Rashee Rice files for bankruptcy, citing more than $3.45 million in debts. https://t.co/EHkdUUejBR
More on Rashee Rice
Chiefs WR Rashee Rice filed for Chapter 7 bankruptcy, claiming more than $3.45 million in debts against just $677K in assets. https://t.co/6Hr7cZljRY
