Roc Nation's Miguel Cotto fell to Canelo Alvarez on Sat. night, and Jay Z had to cough up $100,000.
Jay Z and Beyonce were ringside in Vegas on Saturday night to watch the middleweight title fight between Roc Nation's Miguel Cotto and Canelo Alvarez. As you can see in the above photo, the couple looked on apprehensively as they watched Alvarez defeat Cotto in a unanimous decision. To make matters worse, Hov had bet a hefty sum on the fight with former boxing champion Oscar De La Hoya, whose Golden Boy Promotions represents Alvarez.
De La Hoya told TMZ Sports about the bet before the fight, and as Hov's man went down, he'll be writing a check for $100,000 to a charity of De La Hoya's choice. Luckily, the 100 large shouldn't do too much damage to Jay's pocketbook, and he'll sleep soundly knowing that the money went to a worthy cause.