UPDATE!
Deadline is reporting that the show will not only be staying on El Rey, but will continue to film in Los Angeles' Boyle Heights neighborhood (it doesn't specify if it will use the same specific location, but that seems likely).
Production is set to resume in the fourth quarter of this year so that new episodes will roll out in early 2016.
As the official Lucha Underground account tweeted a short time ago:
Believers, are you ready? #LuchaUnderground season 2 is coming in 2016! pic.twitter.com/a7233Rft4c
— Lucha Underground (@LuchaElRey) September 21, 2015
This ends months of rumors, reports, and speculation, all centered around funding. Just last month an executive producer said a second season was 99.9-percent certain but the when and the where was up in the air. The when has been answered but it's still unclear if they'll film in Los Angeles or move to somewhere like Mexico, as has been rumored.
They were also looking for a second broadcasting partner and so far there's no word on whether or not they found one. The only details we have for the moment is the official word that Lucha Underground season 2 is indeed happening.
Excited?