Kansas City Chiefs' Rashee Rice files for bankruptcy over millions in debt tied to Dallas crash
Rashee Rice, a star wide receiver for the NFL's Kansas City Chiefs, filed for Chapter 7 bankruptcy in Dallas as he owes millions of dollars in settlements and legal fees tied to a 2024 car crash.
According to a filing dated Wednesday with the Federal Bankruptcy Court in the Northern District of Texas, Rice claims $677,054 in assets, while owing 20 creditors more than $3.2 million.
Thomas M. McMurray, Rice's attorney, declined to comment to CBS News Texas on Thursday.
Rashee Rice bankruptcy filing
Among Rice's assets, he lists a $53,800 Mercedes Benz, more than $420,000 in deferred compensation and his Super Bowl LVIII ring valued at $160,000. He does not list a home or other real estate, and cash deposits total $13,640 across three bank accounts.
For income, Rice claimed he has maid $1.25 million so far this year.
The filing also shows that Rice has put up the Super Bowl ring as collateral for McMurray's legal fees.
Most of Rice's debt is tied to judgements, settlements and legal fees from the car crash on Central Expressway in Dallas in March of 2024.
Rashee Rice highway crash
On March 30, 2024, Rice was driving a Lamborghini and his friend Theodore "Teddy" Knox was driving a Corvette on North Central Expressway in Dallas.
Both were speeding in the far-left lane near University Boulevard when the Lamborghini hit the center median wall, officials said, which caused four other vehicles to collide with each other.
Rice's arrest affidavit said he was driving 119 mph and Knox was driving 91 mph before to the crash. The posted speed is 70 mph.
Last July, Rice pleaded guilty to collision involving serious bodily injury and racing on a highway causing bodily injury. The plea deal came with a 30-day jail sentence to be served within a five-year period of probation. At the time of the plea agreement, the timing of the jail sentence was to be determined. He was also suspended for six games to start the 2025 NFL season.
But on May 19 of this year, Rice was arrested after failing a drug screening, which was a condition of his probation. He was ordered to serve the 30-day jail sentence, and was released on June 16.
