3 minSports
Super Bowl champion Rashee Rice files for Chapter 7 bankruptcy
Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy, reporting more than $3.45 million in debt, most of it tied to pending lawsuits.
Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy, according to federal court records, listing more than $3.45 million in debt. The filing was made Wednesday in the U.S. Bankruptcy Court for the Northern District of Texas. Rice, who is 26 years old, is a Super Bowl champion who was part of the Chiefs team that won Super Bowl LVIII.
According to the filing, about $2.1 million of the reported debt is tied to lawsuits. The largest single creditor is owed $979,837 under a 2025 civil settlement. Separately, lawsuits brought by victims of a 2024 high-speed multicar crash in Dallas seek a combined $700,000. A lawsuit from a former girlfriend seeks $200,000 over an alleged assault that she says took place between 2023 and 2025. Rice disputes some of the debts tied to the pending civil suits, and the filing does not resolve those disagreements.
Rice reports $677,054 in personal assets. That total includes $421,825 in deferred compensation, $39,241 in nonexempt personal assets and $13,640 in checking accounts. The filing also lists his Super Bowl LVIII ring, valued at $160,000, which he has pledged as collateral. Because the ring is the most valuable single item named in the paperwork, its treatment will be closely watched as the case proceeds.
The bankruptcy comes at a time when Rice's legal matters remain unresolved. The status of the pending civil litigation has not been settled in the available records, and it is not clear how the Chapter 7 proceeding will affect those cases. Chapter 7 is a liquidation process in which a debtor's non-exempt assets may be sold to repay creditors, which makes the disputed claims and the listed assets central to what happens next.
Rice's rookie contract with the Chiefs, a four-year deal worth $6,495,208, was signed before the crash and the alleged assault were reported in the filings. The contract figure stands in contrast to the debt total, and it underlines how quickly the financial picture has changed for a player whose salary was built on a multiyear commitment from the team.
The outlet that first reported the filing said its requests for comment were not answered by Rice. The Chiefs' response to the bankruptcy filing has not been reported, and no statement from the team has been made public in the available material. Until the court records are tested through the proceedings, the figures in the petition remain the most detailed account of Rice's finances.
Source: foxnews.com
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