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“Yes, we have sent them a termination notice,” the official told PTI.
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.
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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).