Lucha Underground Reportedly Losing Money

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.

Lucha Underground executive producer Eric Van Wagenen posted the following on Twitter

Eric Van Wagenen @EricVanWagenen

The rumors of @LuchaElRey's demise have been greatly exaggerated. Perhaps check with a real source instead of the same old disgruntled one?

 

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

 

Opinionated View- As always you gotta take the observer with a grain of salt but you also can't accept what Van Wagenen at face value. Now for starts it also seem Dave wrote this to take a shot at TNA. Since it's a myth that TNA lost money for that long. So lets address the points

 

All companies lose money early. Not helped by the fact LU clearly wastes money on all there movie scene BS. Also guys like Del Rio and Rey can't come cheap. Plus they also are repotedely having the AAA talent be paid by LU this year.

 

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