Jay Z's Wallet is $100,000 Lighter After Canelo Alvarez Beats Miguel Cotto

To be paid to a charity of Oscar De La Hoya's choice.

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Complex Original

Image via Complex Original

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This week, Jay Z publicly backed Miguel Cotto, a fighter signed to his sports agency Roc Nation Sports, by betting Oscar De La Hoya $100,000 that Cotto would beat his opponent Canelo Alvarez, who's managed by De La Hoya. Well...that didn't happen, instead Cotto lost by unanimous decision, and because of that Jay will pony up the six-figure wager to a charity of Oscar's choice (the cancer unit at White Memorial Medical Center). Jay was in attendance last night, along with Beyonce, for the bout and briefly spoke with his client afterwards, telling him "You fought a great fight, man." 

This, of course, is the type of reaction you can have when you're worth $550 million.

[via TMZ Sports, Hip Hop DX]

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