The Eyrie

DALLAS, TX — Kansas City Chiefs wide receiver Rashee Rice has filed for Chapter 7 bankruptcy in Dallas, saying he owes millions of dollars in debts tied to a 2024 car crash. Court records filed Wednesday in the Federal Bankruptcy Court for the Northern District of Texas show Rice listed $677,054 in assets and more than $3.2 million owed to 20 creditors.

The filing comes as Rice faces a mix of settlement costs, legal bills and judgments connected to the crash. His attorney, Thomas M. McMurray, did not comment to CBS News Texas on Thursday.

Bankruptcy papers list cash, a Mercedes and a Super Bowl ring

Rice’s bankruptcy petition gives a detailed look at what he owns and what he says he owes. Among the assets listed are a Mercedes-Benz valued at $53,800, more than $420,000 in deferred compensation and his Super Bowl LVIII ring, which he valued at $160,000.

He also reported $13,640 in cash deposits spread across three bank accounts. The filing does not list a home or other real estate. Rice said he has earned $1.25 million so far this year.

One notable detail in the paperwork is that Rice listed the Super Bowl ring as collateral for McMurray’s legal fees.

Most of the debt traces back to the March 2024 Dallas wreck

The largest share of Rice’s debt comes from judgments, settlements and legal fees linked to the crash on Central Expressway in Dallas in March 2024. Police said Rice was driving a Lamborghini and his friend Theodore “Teddy” Knox was driving a Corvette on North Central Expressway near University Boulevard when the vehicles were speeding in the far-left lane.

Officials said the Lamborghini struck the center median wall, setting off a chain reaction that caused four other vehicles to collide. Rice’s arrest affidavit said he was driving 119 mph and Knox was driving 91 mph before the crash, while the posted speed limit was 70 mph.

Rice pleaded guilty last summer and received probation and a jail term

In July 2025, Rice pleaded guilty to collision involving serious bodily injury and racing on a highway causing bodily injury. Under the plea deal, he received a 30-day jail sentence to be served within a five-year period of probation.

At the time, the timing of the jail term was left to be determined. He was also suspended for six games to begin the 2025 NFL season.

Probation violation led to another arrest and the jail sentence was served

Rice’s legal problems continued this spring when he was arrested on May 19 after failing a drug screening, a condition of his probation. Following that arrest, he was ordered to serve the 30-day jail sentence.

He was released on June 16 after completing that term. The bankruptcy filing now adds another major chapter to the financial fallout from the Dallas crash and the court cases that followed it.

What the filing could mean for Rice's finances going forward

Chapter 7 bankruptcy is typically used to clear or reorganize qualifying debt through liquidation of assets, and Rice’s filing shows the extent of the financial pressure he says he is under. The documents indicate that the crash-related obligations have become much larger than his listed assets.

With more than 20 creditors named and several categories of debt tied to the wreck, the case underscores how legal judgments and settlement costs can follow a high-profile accident long after the initial crash. The filing does not resolve the underlying criminal and civil history, but it does place Rice’s finances under federal court supervision.