It is currently just shy of 11am where I am, and just shy of 8am in California, where later today the California State Athletic Commission will bring Antonio Margarito and trainer Javier Capetillo forward for a hearing and ruling on the ongoing hand wraps saga from January 24.

It's a big day for boxing, and obviously for Margarito and Capetillo. We all hope for the best, and I have to admit I'm horribly anxious to just get this thing decided. No more speculation. Let's hear what the deal is.

If Margarito is found guilty, his license will likely be indefinitely suspended in California, which every other U.S. commission would honor. He would also almost certainly appeal, which is probably why Top Rank and Margarito have famed attorney Daniel Petrocelli on board today.

Capetillo would likely never work a fight in the States ever again.

If he's innocent -- fingers crossed, for a multitude of reasons -- then we put this behind us and Margarito likely goes on to fight a rematch with Miguel Cotto in June.

We'll be here with news as it comes, and we'll have our thoughts, good or bad, as soon as anything is out.