The AFL has renewed its long-term partnership with car manufacturer Toyota in what is being reported as the largest sports sponsorship deal in Australian corporate history.

The $18.5m-a-year deal, which will run until 2023, is an upgrade on the previous $16m deal and takes the AFL past Tennis Australia as the highest-earning sporting body from sponsorship, the Australian has reported.

Last year, TA agreed Australian Open naming rights with Kia and an associate sponsorship deal with the Chinese liquor company Luzhou Laojiao for about $16m.

The AFL’s latest deal with Toyota ensures their partnership will run for 20 years.

“Our partnership started in 2004 and over that time the contribution Toyota has made to footy, not only in the AFL but at a community level, is nothing short of amazing,” the AFL chief executive, Gillon McLachlan, said at the launch of the new season on Thursday.

“Toyota supporting the AFLW competition further establishes its place in the national sporting landscape.”

Through the Good For Footy program, which focuses on community clubs, Toyota aims to raise $1m in 2019 to help more than 100 local clubs through the provision of better facilities and equipment.

Toyota’s heavy involvement in Australian sport includes a partnership with Cricket Australia, which was renewed for another four years in 2017, and involvement with the Australian Olympic and Paralympic teams.