Lucha Underground Executive Producer Eric Van Wagenen responded to the Wrestling Observer newsletter’s report about Lucha Underground and the future of the company. As noted, the company has money to get them through tapings for season 3 but they will have to raise funds if they want to get a 4th season. Season 3 is scheduled to air in the summer of 2017 so they have some time but this has raised questions about the future of the company.
Keep in mind that the company has reportedly spent tens of millions of dollars for the first season and they are not touring and the ad money is nothing near what WWE is getting. Lucha Underground has reportedly lost as much money in 2 years as TNA lost in their first 10 years.
Van Wagenen posted this on twitter:
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
For the record, Dave Meltzer never said anything about Lucha Underground going out of business. His report stressed the challenges that LU will have because of the money that has been spent and their current deal on El Rey is not enough right now for them to turn a profit.
There are talks of a Lucha Underground movie and there are plans to release shows on iTunes later this year. There is also a Lucha Underground comic in the works. You can check out a preview by clicking here.
