Lucha Underground fans, rejoice! There is still hope that there will be a fourth season of the show after all... possibly.
According to the Wrestling Observer Newsletter, a fourth season might still happen as show executives might have a found a new source of income to fund the show, but there is a catch. If the show gets another season with this new investor, then the budget per episode would be drastically cut. Meltzer said that while the future of the company was looking bleak, it's a little "better than bleak" now.
The main issue plaguing Lucha Underground's hopes for a fourth season has been the lack of any funding and the report means that there is still a chance season four can happen, but nothing is set in stone yet.
The show is currently finishing up broadcasting season 3, which finished filming more than a year ago. As far as some of the Lucha Underground stars looking to get out of their contract, Meltzer said that some of the talent there still under contract have asked for their release, including Ricochet, who wrestles on the show as Prince Puma. Ricochet's contract actually has expired, but he has a 90-day no-compete clause that only starts once the third season is done airing, which has not, and Ricochet is looking to get out of that 90-day clause.
Lucha Underground is currently in the midst of airing Ultima Lucha Tres, the season 3 finale. Part 2 just aired, which you can check out Fightful's coverage of the show at this link. Part 3 of Ultima Lucha will be aired on the El Rey Network on October 11.