Rashee Rice signed a four-year, $6.5 million rookie contract after the Kansas City Chiefs selected him in the second round of the 2023 NFL Draft. The deal included a signing bonus of approximately $1.72 million, giving the young receiver a sizeable financial cushion in an NFL career that would stay in the headlines for reasons beyond football. That kind of money should be able to manage legal expenses and outstanding debts with considerable ease. 

But Rice’s finances tell a different story. The Chiefs receiver filed for Chapter 7 bankruptcy in a Texas federal court on November 4, adding another development to the legal troubles that have followed him since the March 2024 Dallas car crash. Now, details from his 76-page bankruptcy petition have shed more light on just how difficult things have become financially.

The 26-year-old reportedly has only $13,640 across his checking accounts, despite earning millions during his NFL career.

Perhaps the most striking detail is that Rice has listed his Super Bowl LVIII championship ring, valued at $160,000, as collateral for legal fees owed to his attorney. The filing puts his total liabilities at approximately $3.46 million against personal assets worth $677,054, according to The Athletic’s examination of the court documents.

The financial situation traces largely to the March 30, 2024, incident on North Central Expressway in Dallas. Rice was driving a Lamborghini Urus while his friend, Theodore “Teddy” Knox, was behind the wheel of a Corvette. According to the arrest affidavit, Rice’s vehicle reached 119 mph before the collision, with both cars making aggressive maneuvers through traffic. Knox was reportedly travelling at 91 mph in a 70 mph zone.

The Lamborghini struck the center median, triggering a chain-reaction crash involving six vehicles. Several people were injured, while Rice and others involved left the scene without checking on the victims.

Rice pleaded guilty to two third-degree felony charges: collision involving serious bodily injury and racing on a highway causing bodily injury. In July 2025, he was sentenced to five years of probation and 30 days in jail.

The NFL also handed him a six-game suspension at the start of the 2025 season. His legal troubles continued in 2026, when a positive THC test during probation led to an order requiring him to serve the 30-day jail sentence.

The civil cases stemming from the crash have since added to his financial burden. Rice still owes $979,837 to Kathryn Kuykendall following a $1 million settlement reached in April 2025. There is another important detail here: his Chiefs paychecks have been subject to garnishment to cover the settlement. The bankruptcy filing shows that $206,673.81 had already been collected from his wages between 2025 and 2026, yet almost the entire settlement amount remained outstanding.

Other crash-related claims include $350,000 sought by Kamlesh Desai, which Rice has disputed, and $150,000 each for Edward Petrovskiy and Irina Gromova. The filing also identifies other people involved in the crash litigation, although the reported schedules do not provide a consistent individual breakdown of every claim. These amounts should not be treated as final court-awarded damages.

Separately, his former girlfriend, Dacoda Jones, has a disputed $200,000 claim connected to her civil lawsuit alleging abuse. Those allegations have not been established as findings of guilt. Jones had originally sought more than $1 million in damages when she filed the lawsuit in February 2026. The $200,000 listed in Rice’s bankruptcy schedules is the amount of the potential liability he disclosed, not a judgment against him or an admission that he owes her that sum.

Rashee Rice’s NFL earnings offer another look at his financial situation

The bankruptcy filing also reveals that the crash-related lawsuits are not the only financial obligations Rice is dealing with. Among his 20 listed creditors are two banks to which he owes a combined $347,254.40. First National Bank of Middle Tennessee is seeking $207,104.40 for a business debt backed by Rice’s personal guarantee, while First National Bank in Killeen, Texas, is listed as a creditor for an additional $140,150 unsecured loan.

According to the filing details reported by ESPN, Rice lists $421,825 in deferred compensation, a 2023 Mercedes-Benz worth $53,800, and his championship ring among his assets. He also reports no real estate ownership and lists $13,640 across three checking accounts. His other disclosed possessions include $5,000 worth of NFL jerseys and hats and $7,500 in clothing and apparel. The filing also classifies just $39,241 of his assets as non-exempt, meaning this is the portion potentially available for liquidation and distribution to creditors under Chapter 7, subject to the trustee’s review and applicable exemptions.

His legal expenses add another layer to the situation. Rice owes attorney Thomas McMurray $185,226.45, with the Super Bowl ring securing $160,000 of that amount. The remaining approximately $25,226 is not covered by the ring’s stated collateral value. So, the ring has not necessarily been sold or surrendered, but Rice has pledged it against a substantial outstanding legal bill.

The income figures in the filing also offer a closer look at why his financial position is drawing attention. According to the Los Angeles Times, Rice reported monthly income of $59,512.44, but his monthly net income after payroll deductions and expenses was just $3,610.31. His reported wages and commissions since January 2024 had also exceeded $4.7 million. The difference between those figures is significant: earning millions over several seasons has not translated into a comparable amount of disposable income.

The timing is another concern for the Chiefs receiver. Rice is in the final year of his rookie deal, with a 2026 base salary of approximately $1.635 million, in addition to a prorated signing bonus of around $430,949, according to Over The Cap. A potential extension could eventually change his earning power, but his bankruptcy proceedings and outstanding legal claims remain unresolved.

Rice is also approaching a potentially lucrative period in his career. He is expected to enter free agency in March 2027, and Over The Cap projects the 2027 wide receiver franchise tag at approximately $30.9 million. That figure is a projection, not an indication that Kansas City intends to use the tag on him. Still, it illustrates the difference between his current rookie-contract earnings and what a productive receiver could potentially earn on his next deal.

For now, the bankruptcy filing does not mean Rice’s liabilities have been erased. Chapter 7 proceedings will involve a review of his non-exempt assets and the claims made by his creditors, while certain debts may not qualify for discharge. A creditors’ meeting is scheduled for December 11, 2026, when Rice is expected to answer questions about his financial disclosures under oath.