Rashee Rice's Bankruptcy Filing Halts $3 Million in Lawsuits
The Chiefs wide receiver seeks Chapter 7 relief amid a dispute over his eligibility, with a creditors meeting set for December.
By Harper Collins ·
Rashee Rice filed for Chapter 7 bankruptcy on Wednesday, effectively pausing civil litigation tied to a 2024 crash in Dallas. The move places a legal hold on pending lawsuits while the court evaluates his financial standing.
The filing lists more than $3 million in debt. A large share of that total stems from the six-car pileup on Highway 75. Police reported Rice was traveling in excess of 100 mph before the collision in March 2024.
Donald Hood, a bankruptcy attorney not retained by Rice, noted that qualification for Chapter 7 is not automatic. Hood said creditors could demand a 2004 examination of the debtor's finances. He added that Rice might qualify if he proves at least 51% of his debt is business-related.
Rice is in the final year of his rookie contract with the Kansas City Chiefs. He is expected to earn at least $1.5 million this season. A potential re-signing could raise his income and complicate his eligibility for this type of liquidation.
The document lists specific assets, including a Mercedes-Benz and NFL merchandise. Rice also pledged his Super Bowl 58 ring, valued at $160,000, as collateral for his legal team. Some of his wages are already subject to garnishment for victims.
In the criminal case, Rice pleaded guilty to two third-degree felony charges. He received a sentence of five years probation, 30 days in jail, and $115,000 in victim restitution. The NFL suspended him for six games following the incident.
Neither Rice's attorney nor the lawyers representing the victims have issued public statements. Hood suggested that while victims may recover funds after asset liquidation, the amount will likely fall short of their claims. A meeting of creditors is scheduled for December 11.
