It was cancelled because the NFL wasn't happy about it
In a recent interview Lucy said the following about why Football Wives was not picked up
Weren’t you supposed to be playing Tanya Turner in the US version of Footballers’ Wives?
Yes but we called her Tanya Austin. We were supposed to follow Grey’s Anatomy, which is a huge hit, on the autumn schedule. Then we were told that the show had been cancelled because the National Football League weren’t happy about it. Our show was just entertainment, a spoof, but they were very concerned about keeping up appearances and pretending they aren’t real people like the rest of us. I had so much Machiavellian stuff to do, I wanted to make her seem real – I was going to play her like Tony Soprano. I talked to a shrink to help me figure the character out. I wanted her to be rock-solid believable so I’m very disappointed it’s not happening now.