Nearly two years after the much hyped Israel Baseball League ended after a calamity-stricken first season, an official deal has been reached with a new group hoping to revitalize America's favorite pastime in the Holy Land. On Wednesday it was announced that an agreement has been signed between the Israel Association of Baseball and a group named Baseball Field of Dreams LLC. Field of Dreams is represented by New York Yankees minority holder Marvin Goldklang and Jeff Rosen, owner of Israeli basketball team Maccabi Haifa Heat. Goldklang was on the executive committee of the IBL, which attempted to return for a second season in 2008 but failed to organize itself and had fallen into massive debts. "Baseball Field of Dreams LLC will now be doing the necessary due diligence, which we hope will lead to a league taking the field either next year or, perhaps more probably, in 2011," said Nathan Pomerantz, vice president of the Israel Association of Baseball. The agreement granted BFD an exclusive 24-month option to enter into a license agreement with the IAB to operate a professional league in Israel. During the option period, BFD will be conducting a feasibility study and other due diligence activities. Included in the agreement, signed Tuesday, is a pledge by BFD to contribute financially to the continued development of amateur and youth baseball in Israel.