Rashee Rice filed for Chapter 7 bankruptcy on Wednesday in the U.S. Bankruptcy Court for the Northern District of Texas, claiming more than $3.45 million in debts against $677,054 in personal assets, according to ESPN's reporting of the federal court records.
Read that pairing again. A starting receiver on the league's defining team, a Super Bowl champion at 26, is worth — on his own filing — about a fifth of what he owes. And the single most valuable thing he listed is the ring he won as a rookie, which he already put up as collateral to help pay the lawyers.
Where the $3.45 million sits
More than $2.1 million of the debt is tied to plaintiffs suing Rice over the high-speed multicar crash he caused in Dallas in 2024 — civil cases that have either been settled or are still waiting on trial, ESPN reported. The largest single creditor on the list is owed $979,837, what remains of a 2025 civil settlement from the crash.
The crash money is not the whole file. ESPN reported the suits also include an ex-girlfriend alleging Rice repeatedly assaulted her between 2023 and 2025, and the filing itself disputes some of the claims against him. What is not disputed is the shape of it: more than $3.27 million of the total is unsecured debt, most of it litigation.
The ring
The filing lists Rice's Super Bowl LVIII ring at $160,000 — and notes it was used as collateral with Thomas McMurray, his attorney in the pending civil cases, USA Today reported. He earned that ring in February 2024, closing his rookie season with a win over San Francisco. Two months later came the Dallas crash. The ring is now securing the legal bills the crash created.
The rest of the asset list is thin for a player in his position: $421,825 in deferred compensation, $13,640 across his checking accounts, and a 2023 Mercedes-Benz valued at $53,800. Rice told the court he rents his home and owns no property. Of everything he listed, he claimed just $39,241 is nonexempt.
The contract clock made this worse
Rice is playing the final season of the four-year rookie contract he signed as a second-round pick out of SMU in 2023. His base salary for 2026 is $1,560,711, ESPN reported — real money, and nowhere near enough to clear a $3.45 million stack of judgments and settlements. He has no second contract yet. NBC Sports noted he is due to become a free agent in March, and that he has played well enough to get signed, by Kansas City or somebody else.
That negotiation is the story now. The second contract was supposed to be the money that made all of this go away. Instead it arrives in March with a Chapter 7 attached to his name, and every team pricing Rice prices the filing too.
Rice's bankruptcy attorney, David Shuster, and the Chiefs had no comment, ESPN reported. A meeting of creditors is scheduled for December 11, according to local reporting — the next date on a file that started with a crash and now runs through a federal courtroom.
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ESPN — Nate Taylor and Michael Rothstein, "Chiefs' Rashee Rice files for bankruptcy, cites $3.45M debt" (November 5, 2026): the Chapter 7 filing in the Northern District of Texas, more than $3.45 million in debts against $677,054 in personal assets, more than $2.1 million tied to crash plaintiffs, the $979,837 largest creditor, the ring as collateral at $160,000, the deferred compensation and checking balances, the final-year rookie contract and $1,560,711 base salary, and the no-comment from Rice's bankruptcy attorney and the Chiefs · USA Today — "Chiefs WR Rashee Rice files for bankruptcy, claiming more than $3.45 million in debt" (November 5, 2026): the asset list including the 2023 Mercedes-Benz at $53,800 and the Super Bowl 58 ring at $160,000, the largest outstanding claim at more than $979,000, and more than $3.27 million in unsecured debts · NBC Sports / Pro Football Talk — "Rashee Rice files for bankruptcy, citing more than $3.45 million in debt" (November 5, 2026): the $2.1 million tied to plaintiffs from the 2024 street-racing crash, the final year of the rookie contract, and free agency due in March
