UPDATE: Lucha Underground executive producer Eric Van Wagenen posted the following on Twitter in response to the below report…

The rumors of @LuchaElRey's demise have been greatly exaggerated. Perhaps check with a real source instead of the same old disgruntled one? — Eric Van Wagenen (@EricVanWagenen) February 18, 2016

The network gives us a seasonal production budget and we produce the show for exactly that, not a penny more.Thats how TV works @LuchaElRey — Eric Van Wagenen (@EricVanWagenen) February 18, 2016

ORIGINAL: According to the WON, Lucha Underground is still losing money. The site reports that according to one source, since it began the company has lost slightly less than half what TNA lost after ten years.

The company will have to raise more funds in order to get the go-ahead for a fourth season; there was enough capital for a third season which will premiere next year. Lucha Underground is still discussing a possible movie to be produced for 2018.