NYSAC's denial of Margarito's first application for license was due to the injury he suffered in the hands of Filipino boxing star Manny Pacquiao during their fight last year where Margarito suffered a fracture in his right eye orbital bone which required major surgery.
The second application was acted favorably by the Commission
after requiring Margarito to undergo examination by Commission-appointed eye doctors. NYSAC has likewise sought Margarito's eye doctor's opinion on the state of Margarito's eye injuries.
Earlier, Bob Arum, who promotes both fighters under his Top Rank Promotions, has been scouting for alternative venues in case the Commission decides to deny Margarito's license application the second time.
"There is a fight. This gotta be a chapter in my book," Top Rank promoter Bob Arum exclaimed after watching the commission hearing on a live webcast, ESPN reports
Maragrito is set to face Puerto Rican boxing idol Miguel Cotto in a rematch on December 3 at the Madison Square Garden in New York.
According to NYSAC the first denial had nothing to do with Margarito's illegal hand wraps issues.
In 2008, Margarito and Cotto fought in a welterweight match at the MGM Grand in Las Vegas with Margarito inflicting heavy damage on Cotto in a bloody match that ended in the 11th round TKO in favor of Margarito.
In his 2009 fight with Shane Mosley, Margarito was caught with illegal hand wraps before the fight which was held at the Staples Center that ended in a TKO in favor of Mosley. Later Margarito was stripped of his license to fight in California as a consequence of the illegal use of substance found in his hand wraps.
Because of the illegal hand wrap incident, some boxing insiders speculated the same may have been used by Margarito in their first encounter.
"Cotto had earlier threatened not to fight outside New York if the panel ruled Margarito was not fit to fight, saying other states would have followed New York's lead and banned the Mexican," AFP wrote.
The Margarito vs. Cotto fight is expected to attract thousands of boxing fans from Puerto Rico and Mexico as well as Puerto Rican and Mexican residents in New York.