Boxing promoters Oscar dela Hoya and Jay-Z have agreed on a $100,000 wager on the outcome of the Miguel Cotto-Canelo Alvarez middleweight title clash on Nov. 21 at the Mandalay Bay Events Center in Las Vegas. The loser will then donate the money to the winner's chosen charity foundation, ESPN reports.
Dela Hoya owns and manages Golden Boy Promotions and currently represents former unified champion Canelo Alvarez. The former Olympic gold medallist and boxing legend is confident that Canelo will come out on top and claim victory on fight night.
The rapper-turned-boxing promoter Jay-Z believes that Miguel Cotto has the edge over Canelo. Jay-Z is the CEO of Roc Nation Sports, the promoting outfit that currently handles Cotto's career.
According to Yahoo! Sports, if Dela Hoya wins the wager, Jay-Z will donate $100,000 to the White Memorial Medical Center's cancer unit. Dela Hoya is a big supporter of cancer research. The former boxing champion lost his mother, Cecilia Gonzalez De La Hoya, to breast cancer when he was just 17 years old.
If Jay-z wins, Dela Hoya will have to send $100,000 to the Shawn Carter Foundation, an organization dedicated to helping individuals struggling with socio-economic difficulties achieve higher learning from top academic institutions.
Kevin Iole of Yahoo! Sports says Dela Hoya has the advantage in terms of boxing knowledge and experience. Sports bookers also believe that Canelo has a slight edge in the fight against Cotto, branding the Mexican a 2-1 and 3-1 favorite to defeat the Puerto Rico native.
Dan Rafael of ESPN, however, said that Dela Hoya's history of losing bets in big fights can go against him. Dela Hoya has been wrong in picking Manuel Marquez, Shane Mosley, Victor Ortiz, Robert Guerrero and Alvarez over a common opponent, Floyd Mayweather.
