Tennis Australia is being investigated by the corporate regulator over claims a conflict of interest involving prominent businessman Harold Mitchell may have influenced the decision to sell the television rights for the Australian Open to Seven West Media in a broadcast deal worth about $200 million.

The Australian Securities and Investments Commission's ongoing investigation is understood to centre on possible conflict of interest concerns involving Mr Mitchell, who is a Tennis Australia director and former vice-president, and how the television deal was handled by Tennis Australia's board led by president Steve Healy.