Rashee Rice files for Chapter 7 bankruptcy amid millions in crash-related debt
Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy protection in Dallas, according to federal court documents filed Wednesday, KCTV5 reported. The filing, submitted in the Federal Bankruptcy Court in the Northern District of Texas, comes as Rice struggles to manage a massive financial burden stemming from a high-speed, multi-vehicle collision in Dallas over two years ago.
While Rice reported having just over $677,000 in assets, he faces more than $3.2 million in debt owed to 20 different creditors, KCTV5 and Newson6 reported. Much of this financial strain is tied to the legal fallout, settlements, and judgments resulting from a six-car crash on Easter morning in 2024.
The high-speed collision that triggered the financial crisis
The roots of the bankruptcy trace back to March 30, 2024, on the North Central Expressway in Dallas. According to Newson6, Rice was driving a Lamborghini at approximately 119 mph—well above the 70 mph posted speed limit—while his friend, Theodore “Teddy” Knox, was driving a Corvette at 91 mph. The high-speed driving led to Rice’s Lamborghini striking the center median wall, an impact that triggered a chain reaction involving four other vehicles.
In July 2025, Rice was sentenced to five years of probation and 30 days in jail after pleading guilty to charges including collision involving serious bodily injury and racing on a highway causing bodily injury, as reported by KMBC. His probation was further complicated this past May when he was arrested for failing a drug screening, a condition of his release, leading to a 30-day jail sentence that concluded in June, Newson6 noted.
A breakdown of Rice’s reported assets and liabilities
The bankruptcy filing provides a stark look at the personal finances of the fourth-year wide receiver. Despite earning an estimated $1.25 million so far in 2026, the sheer volume of unsecured debt has forced the legal filing.
| Category | Reported Value/Amount |
|---|---|
| Total Assets | Approximately $677,054 |
| Total Liabilities | Over $3.2 million (with KMBC reporting $3.46 million) |
| Deferred Compensation | Over $420,000 |
| Super Bowl LVIII Ring | Valued at $160,000 |
| Mercedes-Benz | $53,800 |
| Cash Deposits | $13,640 (across three accounts) |
Rice has used his Super Bowl LVIII ring—won during his rookie season—as collateral to cover the legal fees of his attorney, Thomas M. McMurray. When asked for comment on the filing, McMurray declined to speak to CBS News Texas on Thursday, Newson6 reported.
The professional stakes for the upcoming free agency
Over his four-year tenure, he has missed 27 games due to a combination of injuries and suspensions. This season, his availability has been hampered by a hamstring injury. When healthy, his production has been modest, totaling 20 receptions for 243 yards and two touchdowns.
The Kansas City Chiefs are scheduled to face the New York Jets this Sunday at 12 p.m.
Keep reading
New Mexico US Attorney Charges 700 in Immigration Enforcement
New Mexico Federal Prosecutors Charge 700 in Four-Week Immigration Sweep ALBUQUERQUE – The numbers are stark, a snapshot...
Republicans keep Montana legislative majority despite blue wave
Montana's Red Map Holds Firm as Blue Wave Swells Nation Across the nation, voters reshaped state legislatures last...
Telemundo Deportes’ Weekend Soccer Schedule Includes Bayern, Man City, Juventus
Telemundo Deportes Unites Global Powerhouses for a Soccer Weekend in the U.S. Spanish-language sports fans in the United...
NJ Transit Service Suspended Due to Stuck Newark Drawbridge
Newark Drawbridge failure disrupts NJ Transit rail lines during Thursday evening commute A mechanical failure at the Newark...