Town are in discussions regarding a new sponsor for the West Stand after the Magnus Group having applied to go into administration.
The local logistics company filed a Notice of Intention to appoint an administrator at the High Court in London on Friday.
The Magnus Group, whose CEO Olly Magnus is a lifelong Town supporter, signed up to sponsor the stand for an initial two-year period in the summer of 2021, a deal which was subsequently extended.
However, with the Blues understood to be among the company’s creditors, the club has announced that the arrangement has been terminated.
A Town statement reads: "Ipswich Town Football Club can confirm that its corporate partnership with Magnus Group Ltd has ended through mutual agreement.
"Magnus Group, a logistics company in Suffolk, was an elite partner of the football club and had sponsored the West Stand at Portman Road since August 2021.
"The club would like to thank Magnus Group, including Olly Magnus, CEO of the company, for their support in that time.
"The West Stand at Portman Road will be rebranded in due course, with the club currently discussing partnership opportunities with multiple organisations.”
The value of the sponsorship of the West Stand - still known to many as the Pioneer Stand, its original name when it was built in 1983 - is likely to have increased significantly since the Magnus Group signed its deals given the Blues’ progress from League One to the upper reaches of the Championship.
Prior to the Magnus Group, the East of England Co-op had been the stand’s sponsor for 11 years, following on from the Britannia Building Society.