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 in the city and a roof garden cabaret. The building cost $3 million. Madison Square Garden II was unsuccessful like the first Garden, and the New York Life Insurance Company, which held the mortgage on it, decided to tear it down in 1925 to make way for a new headquarters building, which would become the landmark Cass Gilbert-designed New York Life Building. A third Madison Square Garden opened in a new location, on 8th Avenue between 49th and 50th Streets, from 1925 to 1968. Groundbreaking on the third Madison Square Garden took place on January 9, 1925. Designed by the