Coldplay will reportedly earn 1 million for performing in Abu Dhabi on New Year's Eve.

The British rockers have agreed to headline a show at the Volvo Ocean Race venue on December 31.

The Emirate's Crown Prince, Mohammed bin Zayed, persuaded Coldplay to perform live this weekend to celebrate the gruelling round-the-world yacht race.

Platinum tickets for the lavish concert have been selling for 4,300 and include champagne and car parking passes.

Coldplay guitarist Jonny Buckland has revealed he is looking forward to returning to Abu Dhabi.

"I've never stayed anywhere like the hotel they put me in and probably never will again," he explained. "It made Buckingham Palace look like a two-bed semi."

The band last played in Abu Dhabi in 2009. The concert was struck by torrential rain, thunder and lightning. During the show, frontman Chris Martin entertained the crowd by singing Raindrops Keep Falling on My Head.

Their latest live performance will reportedly take place at a unique venue. Destination Village has been erected on the Corniche Breakwater where the Volvo Ocean Race will take place from December 31.