Chiefs' Rashee Rice Files Chapter 7, Listing Over $3.2 Million Owed

Kansas City Chiefs wide receiver Rashee Rice filed for Chapter 7 bankruptcy in Dallas on Wednesday, Nov. 4, citing millions of dollars in settlements and legal fees, according to CBS News and KCTV. Federal court records show he lists $677,054 in assets and owes 20 creditors more than $3.2 million, CBS News reported.

Most of the debt traces to a March 2024 multicar crash on Central Expressway in Dallas. Reports differ on the total owed: Fox News' OutKick said the filing reports more than $3.45 million in debt.

The central numbers in Rice's filing

• $677,054 in assets. CBS News and Fox News both cite this figure. KCTV described it as just over $675,000.
• More than $3.2 million owed to 20 creditors. This is CBS News' figure. OutKick reported more than $3.45 million in total debt, so the sources do not agree on the exact amount.
• $2.1 million tied to lawsuits. According to OutKick, Rice attributed this part of his debt to litigation.
• $979,837 to the largest creditor. OutKick reported that this stems from a 2025 civil settlement related to the crash.
• $1.25 million in income this year. CBS News and KCTV reported that Rice claimed this amount for 2026 so far.
• $13,640 in cash. The filing shows the sum across three bank accounts.

What Rice owns, and what is pledged

Among the listed assets are a Mercedes-Benz valued at $53,800 and deferred compensation of more than $420,000. OutKick put the deferred compensation at $421,825. Rice also lists his Super Bowl LVIII ring, valued at $160,000.

The filing shows the ring has been put up as collateral for legal fees owed to attorney Thomas McMurray, according to CBS News and OutKick. Fox's report described McMurray as Rice's attorney in the pending civil litigation. Rice lists no home or other real estate. OutKick reported that he rents a residence and lists $39,241 in nonexempt personal assets.

McMurray declined to comment to CBS News Texas. OutKick said it did not immediately receive responses from McMurray, the Chiefs or Rice's bankruptcy attorney.

The crash and the lawsuits behind the debt

On March 30, 2024, Rice was driving a Lamborghini and his friend Theodore "Teddy" Knox was driving a Corvette on North Central Expressway, CBS News reported. Officials said both were speeding in the far-left lane near University Boulevard when the Lamborghini hit the center median wall, setting off a collision between vehicles. KCTV described it as a six-car crash. Rice's arrest affidavit put his speed at 119 mph and Knox's at 91 mph, in a zone with a posted limit of 70 mph.

Rice later pleaded guilty to collision involving serious bodily injury and racing on a highway causing bodily injury. KCTV noted that he pleaded guilty to two felony charges.

OutKick reported that some debts remain in dispute. Rice disputes certain obligations tied to pending civil suits. Victims of the 2024 crash filed suits seeking a combined $700,000. A separate suit from an ex-girlfriend, who alleges he assaulted her between 2023 and 2025, seeks $200,000.

What this means for Rice and the Chiefs

Chapter 7 is designed for people who cannot pay their debts and are willing to let non-exempt property be used to pay creditors, according to language in Rice's own filing, as quoted by OutKick. The filing does not say which assets, if any, might be sold. Whether the pledged Super Bowl ring is affected was not disclosed.

The filing arrives as Rice's NFL future is also in question. KCTV reported that Rice is set to become a free agent at the end of the 2026 season. It said his chances of landing a major contract will depend on his off-field issues and his availability. Spotrac data cited by KCTV shows his rookie deal was a four-year, $6.5 million contract. OutKick listed it as $6,495,208.

Availability has been an issue. Rice has missed 27 games over four seasons because of injuries and suspensions, according to KCTV. This year a hamstring injury has limited him to five games, per OutKick, with 20 receptions for 243 yards and two touchdowns. KCTV said the Chiefs play the New York Jets on Sunday at noon.

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Around Prague, based on reporting by CBS News, KCTV, Fox News