Nine to clinch Australian Open tennis deal for $500m

Seven, which bought the rights in 2018, has endured a frosty relationship with CA. It will appear in the federal court early next year in an attempt to terminate its existing agreement on the grounds CA failed to deliver quality Big Bash League matches. Seven declined to comment.

Audience figures have slid for the Big Bash League in recent years, which Seven executives believe significantly reduces the value of the rights for free-to-air television. That is not expected to deter Paramount and its free-to-air network Ten, which held the rights until 2018, but it may affect the price.

Sources close to Paramount’s bid said key executives, under the direction of global boss Bob Bakish, are bidding for Test matches and the Big Bash League. Paramount declined to comment.

Paramount proved it has the money for lucrative sports deals in September, when it offered the AFL $6 billion over 10 years. Paramount’s current investment in sport is considerably smaller than its rivals. It has the rights to the Flemington racing carnival, but those rights expire next year, and has signed a five-year $200 million deal with the A-League and W-League soccer competitions, which have so far struggled to attract large audiences. It secured a deal to broadcast the Matildas and Socceroos matches in June.

Obtaining the cricket rights is the final chance for Paramount to secure a tier-one Australian sport for a number of years, given most major sports deals are locked in. Industry experts believe the company may spend up to $200 million a year to secure it.

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Foxtel, which has access to one-day internationals, the Big Bash League and Test matches, has also bid for the rights. However, it recently committed to substantial payments to the AFL and NBCUniversal, which will likely limit how much it can offer to retain the cricket. Foxtel was approached for comment.

If Nine is successful in its bid, it would be the only media company with two major summer sports in its programming line-up. Nine is currently broadcasting the T20 World Cup and will air the 2023 Ashes. It was the cricket broadcaster for more than 40 years until Seven won the free-to-air rights in 2018.

Cricket and tennis are not the only sports that are up for negotiation. International Olympics Committee officials will fly in to Australia this month, according to the sources, to commence a tender for the rights to the next three games, including the 2032 Brisbane Olympics. The last agreement sat with Seven and included compensation for a delay to the Tokyo 2020 Games.