Muhammad Ali victory in federal court forced the New York State Boxing Commission to reinstate Ali's license. He fought Oscar Bonavena at Madison Square Garden in December, an uninspired performance that ended in a dramatic technical knockout of Bonavena in the 15th round. The win left Ali as a top contender against heavyweight champion Joe Frazier. Ali and Frazier's first fight, held at the Garden on March 8, 1971, was nicknamed the "Fight of the Century", due to the tremendous excitement surrounding a bout between two undefeated fighters, each with a legitimate claim as heavyweight champions. Veteran boxing writer John Condon called
Madison Square Garden Company Square Garden Corporation became a charter member of the National Basketball Association with the New York Knicks. On August 17, 2016, MSG acquired a 12% stake in digital media, broadcasting, and events company Townsquare Media from GE Capital. On July 31, 2017, MSG acquired a controlling stake in professional video gaming team Counter Logic Gaming. In addition to owning the Madison Square Garden arena in Manhattan, New York City, The Madison Square Garden Company is divided into two entities. Madison Square Garden, L.P. used to operate the Hartford Civic Center (now the XL Center), an indoor arena in Hartford, Connecticut,