Spike TV's "Fight Master" might not be dead after all.

The cable network is currently holding internal discussions about filming a second season of the show with new Bellator lightweight champion Eddie Alvarez, Michael Chandler, Quinton Jackson and Tito Ortiz serving as coaches, according to sources with knowledge of the situation. Randy Couture has also been discussed as the new host of the show, replacing Jimmy Smith.

Sources say the second season hasn't been greenlit yet, but the network is expected to make a decision in the next few weeks. The show would air before the third Alvarez vs. Chandler fight, which is expected to take place in 2014.

"Fight Master"'s inaugural season aired over the summer to mixed reviews and ratings. The coaches were Couture, Greg Jackson, Frank Shamrock and Joe Warren. Veteran Joe Riggs won the reality show by defeating Mike Bronzoulis via unanimous decision earlier this month.

Following Bellator 106, CEO Bjorn Rebney sounded pessimistic about the future of the reality show.

"We've had a few different discussions about what would happen," Rebney said. "If it's going to come back, what it looks like if it comes back, what changes would be made, what wouldn't be made.

"Reality fight TV is having its difficulties right now," said Rebney. "You can see it in the UFC's ratings, they're having the lowest-rated TUF they've had in the history of the show. Reality TV on the fight front is not an easy nut to crack to draw huge viewership right now. But we're getting good numbers on the live events. So we'll see. I don't know."