LOS ANGELES (CBSLA.com) — Jay Z and Oscar De La Hoya are putting their money where their mouths are.
The rapper and boxing legend have agreed to wager $100,000 on the upcoming Miguel Cotto vs. Canelo Alvarez fight on November 21st.
Jay Z’s company Roc Nation represents Miguel Cotto, while Canelo Alvarez is represented by De La Hoya’s Golden Boy Promotions.
If Cotto defeats Alvarez, De La Hoya will make a $100,000 donation to Jay Z’s Shawn Carter Foundation.
While if Alvarez wins, Jay Z will donate the same amount to the White Memorial Medical Center’s Cancer unit.
According to the Shawn Carter Foundation’s website, their mission is to help individuals facing socio-economic hardships further their education at post secondary institutions.
Meanwhile, the White Memorial Medical Center is a non-profit teaching hospital, which provides a full range of inpatient, outpatient, emergency and diagnostic services to communities in and near downtown Los Angeles.