Chiefs Receiver Rashee Rice Seeks Bankruptcy Protection Amid $3 Million Debt
The wide receiver filed for Chapter 7 bankruptcy following a 2024 high-speed crash in Dallas, a move that pauses pending civil lawsuits against him.
By Matthew Collins ·
Kansas City Chiefs wide receiver Rashee Rice filed for Chapter 7 bankruptcy on Wednesday. The filing lists more than $3 million in debt, a substantial portion of which is tied to civil litigation stemming from a traffic accident in March 2024.
According to the bankruptcy documents, Rice is currently dealing with multiple lawsuits filed by victims of a six-car pileup on Highway 75 in Dallas. Police records from that incident indicate Rice was driving at a speed exceeding 100 miles per hour before the collision. The filing shows that a portion of his wages is already being garnished to satisfy claims from some of the victims.
Donald Hood, a bankruptcy attorney not involved in the case, stated that it is not yet clear if Rice qualifies for Chapter 7 discharge. Hood noted that creditors could request a 2004 examination of the debtor. He added that Rice might qualify only if he can prove that at least 51% of his total debt is business-related. Hood suggested that while victims may receive some compensation after Rice's assets are liquidated, the amount likely will not approach the total of their claims.
The bankruptcy filing places the pending litigation on hold through a process known as a suggestion of bankruptcy. Rice is in the final year of his rookie contract and is expected to earn at least $1.5 million this season. His income could rise if he is re-signed, a factor that may influence his eligibility for the type of bankruptcy he filed.
The filing lists Rice's assets, which include a Mercedes-Benz, NFL jerseys, and hats. He also pledged his Super Bowl 58 ring, valued at $160,000, as collateral for his attorney. In the criminal case related to the crash, Rice pleaded guilty to two third-degree felony charges. He received a sentence of five years of probation, 30 days in jail, and an order to pay $115,000 in victim restitution. The NFL suspended him for six games following the incident.
A meeting of creditors is scheduled for December 11. Attorneys representing the victims have not yet issued a statement, and Rice's attorney has not responded to requests for comment.
