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.

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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.

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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.

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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.