The BCCI has decided to part ways with International Management Group (IMG), which has held the events rights of the IPL since its inception, a top Board official revealed on Friday.
"Yes, we have sent them a termination notice," the official said.
It has been learnt the notice was sent earlier this week and the board plans to run its premier tournament with its own set of professionals from this year.
The UK-based company had retained the event rights for the IPL in 2017 for a five-year period till 2022.
READ: IPL 2021 in India or UAE? Governing Council discusses limited venues
The 2021 edition is expected to be held in its usual window of March-April but it is not yet decided whether it will take place in India or overseas like the 2020 one.
A mini auction before the IPL is expected to be held in February.
The latest edition, which ran from September-November, was held in the UAE due to the COVID-19 pandemic in a bio-secure environment.
It was the second time in IPL history that the tournament was held overseas completely (after South Africa in 2009).
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