The two met on Japan's New Year's Eve show almost three years ago, with Aoki only needing a minute and 32 seconds to lock in a submission.
BloodyElbow.com has confirmed with credible sources close to the situation that the rematch is indeed underway, and will this time, be contested in Bellator. The deal hasn't been signed, although verbal agreements from DREAM and Bellator, along with both Aoki and Alvarez are in place.
Bellator has been notorious for having title contenders go through tournaments, but the promotion could make an exception when their title holder faces the DREAM lightweight champ in Aoki. The sources, who wished to remain anonymous due to the ongoing negotiations, mentioned that while things haven't been finalized, the Bellator lightweight championship that Alvarez holds is likely to be defended.
Tony Loiseleur was the first to report on the match up, stating that the bout is in the works for a 2012 clash.