Kansas City Chiefs star Rashee Rice appears to have fallen on hard times.
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The star running back has filed for Chapter 7 bankruptcy. Despite having a playing contract that nets him an annual salary of $1.6 million. According to a Thursday (November 5) report from ESPN.
Chapter 7 bankruptcy is a legal process under United States federal law that allows individuals and businesses to eliminate most of their unsecured debts through liquidation.
Chiefs Star Files For Chapter 7 Bankruptcy
Rice filed for bankruptcy in federal court Wednesday, claiming he has more than $3.45 million in debts, according to federal court records obtained by ESPN.
The football star claims that more than half of his debts are tied to multiple plaintiffs suing him in civil trials. Related to a high-speed, multi-car street racing crash in Dallas in March 2024. As well as a former spouse alleging he abused her from 2023 to 2025.
Per court records, Rice says he has $677,054 in personal assets, including $421,825 in "deferred compensation." Rice also claims to have just $13,640 in his checking accounts.
The football star has offered his Super Bowl LVIII ring, which he valued at $160,000, as collateral.
Rice has had a hard time staying out of the headlines as of late. He recently wrapped up a short prison stint. He had to serve time due to violating the terms of his probation. A May 2026 drug test showed that he had THC (marijuana) in his system. He was immediately ordered to serve the 30-day sentence and was released in mid-June.
Rice called the bid "mentally tough."
"It was mentally tough. They gave me ways to communicate with my teammates still, as well as my athletic trainer," he said back in August (via ESPN). "Besides the hard times in there, I kept my mind right watching shows and as much [of comedian] Kevin Hart as I could to laugh."
However, the football star vowed to stay on a straight arrow. And put all the past drama behind him.
"I'm 100% locked in on what's going on now with the team," Rice added. "I'm ready to go out there and dominate. I've got a good group of brothers behind me."
