According to the latest edition of the Wrestling Observer Newsletter, the possibility of another season is appearing less and less likely to happen as the company that has funded the last two seasons of the show isn’t too keen on financing a fourth.
It has been reported over the past few weeks that the El Rey Network wants a fourth season of the promotion, but, so far, no one has come forward to finance the season.
Since debuting in 2014, Lucha Underground has reportedly continued to lose money. The hope was that by reaching 100 episodes – episode 100 aired on September 13, 2017 – the promotion would be chosen for syndication, which requires a minimum of 100 episodes to be eligible.
Lucha Underground is currently in the midst of season three, which was taped in the spring of 2016 and began airing on September 7, 2016. Superstars like Rey Mysterio and Prince Puma (Ricochet), who have both appeared this season, are no longer with the company. However, due to contracts for most talents, they can't appear on television for other promotions until their final appearance airs on television.
Its current on-air Lucha Underground Champion Johnny Mundo is now working with Impact Wrestling as Johnny Impact due to his agreement with AAA.
They did reach a deal with Netflix to air the first two seasons of the show, but there has been no word as to if season three will ultimately be available on the streaming service after Ultima Lucha Tres airs later this year.