Chiefs’ Rashee Rice Seeks Bankruptcy, Pledges Super Bowl Ring Amid $3.45M Debt

WHO:

NY Post - Rashee Rice, a 26-year-old Kansas City Chiefs wide receiver, filed for bankruptcy.

Fox News - Rice is a Super Bowl champion and plays wide receiver for the Kansas City Chiefs.

Fox News - Rice listed Thomas McMurray, his attorney in pending civil litigation, as the person holding collateral.

Fox News - Rice was sued by multiple victims of a Dallas crash and by an ex-girlfriend who alleges he assaulted her.

NBC Sports - Rice is in the final year of his rookie contract and has not yet received a second contract.

WHAT:

Fox News - Rice reported that he rents a residence.

Fox News - Rice filed for Chapter 7 bankruptcy and reported more than $3.45 million in debt; $2.1 million was attributed to lawsuits.

IJR - The filing listed roughly $3.46 million in liabilities and $677,000 in assets, largely connected to lawsuits and legal costs arising from the Dallas crash.

Fox News - Rice listed his Super Bowl LVIII ring, valued at $160,000, as collateral with McMurray.

Fox News - Rice reported $677,054 in personal assets, including $421,825 in deferred compensation, $39,241 in nonexempt personal assets, and $13,640 in checking accounts.

Fox News - Rice’s largest creditor was owed $979,837 under a civil settlement related to the crash.

Fox News - Crash victims’ lawsuits sought a combined $700,000; the ex-girlfriend’s lawsuit sought $200,000 over the alleged assault.

Fox News - Rice disputes certain debts tied to pending civil lawsuits.

Fox News - Rice’s four-year Chiefs contract was worth $6,495,208.

NBC Sports - Rice’s rookie contract was described as worth $6.45 million; he was due to become a free agent in March.

Fox News - Rice had played five games that season, recording 20 receptions, 243 receiving yards, and two touchdowns.

WHERE:

NY Post - Rice filed in the U.S. Bankruptcy Court for the Northern District of Texas.

Fox News - The lawsuits concern a 2024 high-speed, multicar crash in Dallas.

WHEN:

Fox News - Rice filed for Chapter 7 bankruptcy on Wednesday.

WHY:

Fox News - Rice’s bankruptcy filing described Chapter 7 as intended for people whose financial difficulties prevent them from paying debts and who permit non-exempt property to be used to pay creditors.

IJR - The filing was largely tied to lawsuits and legal costs related to the 2024 Dallas crash.

HOW:

IJR - The filing pauses ongoing collection efforts; IJR also reported that Rice faces a jail sentence, probation, and an NFL suspension related to the crash.

IJR - The bankruptcy filing pauses ongoing collection efforts.

NBC Sports - The filing sought federal bankruptcy protection, which could allow some debts to be discharged under Chapter 7.

Chiefs receiver Rashee Rice filed for bankruptcy, reporting more than three million dollars in debt. His filing lists about six hundred seventy-seven thousand dollars in assets. The process pauses collections as he faces lawsuits over a Dallas crash and an assault allegation.