In a Q&A session with Lem Satterfield of The RING, Antonio Margarito says that he wasn't worried about the New York license situation, but that if he had been turned down, with Miguel Cotto refusing to fight anywhere but Madison Square Garden on December 3, he was prepared to offer to fight Cotto in Puerto Rico:
"[W]e even talked about the fact that if Miguel Cotto wouldn't have fought me in New York, then we were ready to go over to Puerto Rico and fight him over there.
"We were going to say that Miguel Cotto could take the fight to Puerto Rico if that would make him feel more comfortable fighting over there, and I was still going to beat him."
Now it's basically impossible to tell if he's serious or not, but it's pretty well-known that Top Rank wasn't looking at a venue in Puerto Rico, either, and getting all of that secured on short notice would have been a little daunting. Denver was reported yesterday as the replacement host for the fight, just before Cotto said on a soap opera-esque conference call that he wouldn't fight outside of New York.
Margarito (38-7, 27 KO) and Cotto (36-2, 29 KO) have seen this fight balloon in overall interest thanks to the New York licensing drama, and I think I can confidently say this is now A Big Fight, with potential to draw interest from more than just the hardcore boxing fan audience.