The BCCI has decided to separate from the International Management Group (IMG), which has held the rights to IPL events since its inception, a senior board official revealed on Friday.
“Yes, we have sent them a termination notice,” the manager said.
It was learned that the notice had been sent out earlier this week and that the board of directors are planning to hold their first tournament with their own group of professionals starting this year.
The UK-based company retained the event rights for the IPL in 2017 for a period of five years until 2022.
READ: IPL 2021 in India or UAE? Board of Directors discusses limited venues
The 2021 edition is expected to be held in its usual March-April window but it is not yet decided whether it will take place in India or abroad like the one in 2020.
A mini auction before the IPL is expected to take place in February.
The latest edition, which took place from September to November, was held in the UAE due to the COVID-19 pandemic in a bio-secure environment.
It was the second time in the history of the IPL that the tournament was held completely abroad (after South Africa in 2009).