*Note: WBC title on the line for Canelo Alvarez only, after Cotto allegedly failed to pay a WBC sanctioning fee.
Rap star turned businessman Jay Z and Oscar De La Hoya have wagered $100k on next Saturday’s massive WBC World Middleweight title showdown between Miguel Cotto and Canelo Alvarez.
Jay Z, whose Roc Nation outfit represents Puerto Rican four-weight world champion Cotto, and Canelo’s promoter De La Hoya have placed the friendly bet over the upcoming superfight, with the loser donating the six-figure sum of money to the charity of the winner’s choosing.
If Cotto successfully defends his title against the 25-year-old Canelo, Golden Boy’s De La Hoya will donate his $100k to the Shawn Carter Foundation, Jay Z’s charity under his birth name. A win for 45-1-1 Canelo and Jay Z will donate his money to support De La Hoya’s fundraising for the White Memorial Medical Center’s cancer wing.
“They say that in a prize fight, there can only be one winner. But on November 21, after Canelo Alvarez defeats Miguel Cotto and claims the mantle of middleweight champion, he won’t be the only who emerges victorious,” said De La Hoya, speaking to USA TODAY Sports.
“White Memorial Medical Center - and the tens of thousands of cancer patients they treat - will be the beneficiaries of the $100k coming from Jay Z after he loses our charitable wager. Now that’s a win-win in my book,” De La Hoya added.
Jay Z has taken a keen interest in this fight already, visiting Cotto and his trainer Freddie Roach in Hollywood’s Wild Card Gym, and he’s expected to be at ringside on the Mandalay Bay fight night on November 21.
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