Nine Entertainment Co will broadcast The Australian Open and other local tournaments until 2029 under a multi-million dollar extension of its deal with Tennis Australia.

The media giant confirmed reports in this masthead that it had signed a five-year deal, solidifying its position as the home of tennis in Australia. Nine originally secured the rights to the tennis in 2018, a deal that ended a 40-year relationship with rival Seven West Media.

Nine said cash for the deal is an average of $85 million a year, but the deal also includes advertising credits, promotions and other services. This masthead wrote in October Nine had offered an average of $85 million per year to extend the deal, but that it could end up higher given tennis’ ambition to secure a deal worth about $100 million per annum.

The media giant did not disclose how many millions of dollars it would give Tennis Australia in contra - ad dollars - and services per annum. When taking this into account, the deal is likely to be worth substantially more than the cash component, which is worth about $425 million over the five years.

“Tennis attracts both a broad and very passionate following, and is a perfect fit with Nine’s schedule, audiences and advertisers,” Nine chief executive Mike Sneesby said. “The Australian Open has delivered some of Australia’s most iconic sporting moments and largest television audiences and together, we are committed to bringing these great moments to all Australians live and free.”

Tennis Australia chief executive Craig Tiley said the deal would generate tennis appeal among younger audiences.

The latest agreement between Nine and Tennis Australia is a significant increase on the agreement struck between the two companies in 2018 - about $125 million over the term of the deal - and substantially higher than Tennis Australia’s last deal with Seven in 2014, which was worth about $35 million annually. Nine owns television, radio and digital assets including streaming service Stan and The Sydney Morning Herald and The Age.

The deal solidifies Nine’s interest in tennis, which has expanded as its streaming service Stan grows its live sports coverage. Nine and its streaming service Stan have the broadcast rights to all four grand slams - the Australian Open, Wimbledon, the US Open and the French Open.