In an appearance on Shannon Sharpe’s Club Shay Shay, boxing promoter Oscar De La Hoya talked about the time Jay-Z lost a bet to him over a fight between Canelo Alvarez and Miguel Cotto in 2015. “So we’re promoting Canelo at the time, Golden Boy, and he’s promoting Cotto,” De La Hoya said.
“So I said, ‘You know what? Why don’t place a bet here of $250,000? But it goes to charity,” he continued. “So Canelo wins, my charity wins the two-fifths, and sure enough he paid it on the spot. I think the next day the cheque was in the bank. Jay-Z loves boxing, he knows his boxing. But he’s a guy who pays his bets.”
Sharpe joked that De La Hoya “took advantage” of Jay-Z, but De La Hoya insisted it was a close fight and many spectators felt Cotto should’ve won. “But I had the insight,” he laughed.
Watch Oscar tell the story below!
