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The $35 Million Kevin Spacey Gamble

The ‘House of Cards’ star has quietly reached an extraordinary settlement that would wipe his debt clean if he testifies on behalf of MRC, the producer of the hit Netflix series, in its $150 million insurance claim.

kevin spacey
Kevin Spacey will pay just $1 million to MRC, while assisting the company in its crusade to collect on insurance policies from Lloyds of London and Fireman’s Fund worth up to $150 million, plus punitive damages. Photo: Lucy North/PA Images/Getty Images
Eriq Gardner
February 6, 2024

Kevin Spacey just received a multimillion-dollar reprieve. Back in 2022, the disgraced actor was ordered to pay $31 million to Media Rights Capital, producer of House of Cards, for breaching his contract when he engaged in sexual misconduct on set. But in recent days, I’ve learned that Spacey has come to an equally astonishing settlement: If he cooperates with MRC’s lawsuit against the show’s insurers, including by testifying at a trial potentially happening this summer, his debt will be wiped clean.