Drake signed the rising hip-hop star to his roster in September, 2014.

Representatives for the star and his label boss have yet to comment on the report, but the news shouldn't come as too much of a surprise to fans.

iLoveMakonnen, real name Makonnen Sheran, previously hinted at his strained relationship with OVO officials last year (15).

"It's cool, they put out my music and stuff and we just keep it moving," he told Fader. "I'm just an artist, being an artist, and there's only so much that I can do."

In another interview in December (15), he revealed label bosses had blocked plans to release new material from his iLoveMakonnen2 project last summer (15).

"Second Chance was supposed to be that summer banger this summer," he said. "That was supposed to be out, touching people and hitting them this summer... It's all late."

iLoveMakonnen finally self-released the track in November (15).

It is not yet known if the star is planning to sign with a new major label or go independent, but he is currently keeping himself busy preparing to head out on tour with his new Can't Let It Go collaborator, rapper Lil B.