Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy, citing more than $3.45 million in debt. The filing comes as the 26-year-old continues playing through the final NFL season of his rookie contract.
Podcaster Farzin Vousoughian highlighted the financial situation in a post on X.
“Chiefs WR Rashee Rice has filed for bankruptcy…” Vousoughian wrote. “Files show that Rice has put up his Mercedes-Benz and Super Bowl ring as collateral for legal fees.”
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Chiefs WR Rashee Rice has filed for bankruptcy. Rice claims he owes 20 creditors more than $3.2 million. Files show that Rice has put up his Mercedes-Benz and Super Bowl ring as collateral for legal fees. pic.twitter.com/Z2LqXZ1Z63
— Farzin Vousoughian (@Farzin21) November 5, 2026
Per ESPN’s report, Federal court records show Rice filed in the Northern District of Texas on Wednesday. He listed approximately $677,054 in personal assets, leaving a significant gap between his assets and liabilities.
More than $2.1 million of his reported debts relate to civil litigation. Those cases include lawsuits connected to his 2024 Dallas car crash and allegations of assault by a former girlfriend.
The largest listed creditor is reportedly owed $979,837 under a 2025 civil settlement connected to the crash. Rice also disputes other potential liabilities, including claims involving crash victims.
Rashee Rice puts Super Bowl ring up as collateral
The bankruptcy documents reveal that Rice used his Super Bowl LVIII ring as collateral for legal fees. He valued the ring at $160,000 and listed his Mercedes-Benz among his assets.
Rice also reported just $13,640 across his checking accounts. He said he rents his residence and does not own any property.
Chapter 7 bankruptcy allows eligible individuals to use nonexempt assets to repay creditors. Rice listed $39,241 of his assets as nonexempt.
The financial situation arrives as Rice approaches free agency in March. He is expected to earn $1.56 million in base salary during 2026.
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Rice has played five games this season, recording 20 catches for 243 yards and two touchdowns. His next contract could provide significant financial relief, but the bankruptcy proceedings may complicate his situation.
Meanwhile, the Chiefs have started the 2026 season with a 5-2 record and sit second in the AFC West. After winning their first five games, Kansas City has lost back-to-back games against the Seahawks and Broncos.
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