Jay Z & Oscar De La Hoya Bet $100K On Miguel Cotto/Canelo Alvarez Boxing Match
Jay Z is so confident in his Roc Nation Sports client Miguel Cotto, that he is willing to put six-figures on his upcoming fight against Canelo Alvarez.
Oscar De La Hoya feels equally cocksure in his pupil that he’s matching Mr. Shawn Carter’s wager of $100k for the upcoming fight on November 21.
And before any yahoo’s start accusing the two of being rich dummies just flaunting their money around, the money is going to charity.
Page Six has the inside scoop.
ROC Nation Sports boss Jay Z and Golden Boy Promotions’ Oscar De La Hoya will put their money where their mouths are when their boxers Miguel Cotto and Canelo Alvarez fight for the middleweight world championship on Nov. 21.
According to a wager between the two, we hear, if Cotto defeats Alvarez, De La Hoya will have to fork over $100,000 to Jay’s Shawn Carter Foundation.
Jay will pay the same $100K to the White Memorial Medical Center’s cancer unit if De La Hoya client Alvarez wins.
“The bet started taking shape when both co-promoters visited their boxers’ camps prior to fight week, boasting about their fighters’ ability,” said an insider. The fight airs live on HBO pay-per-view from Las Vegas.
Be thankful they didn’t use DraftKings and FanDuel to place the bet. Hova has been keeping a close eye on his prize fighter. Check out his recent visit to a workout where he linked with Freddie Roach on the next couple of pages.
Photo: Stefan Jeremiah/WENN.com, Hector Santos Guia/Roc Nation Sports/Miguel Cotto Promotions, LLC