The Rolling Stones will perform their first-ever Israel concert, it has been confirmed.

Representatives said on Tuesday that the band would go ahead with its performance in Tel Aviv this summer as planned.

The Stones were reportedly offered £4.5 million to play the open-air concert in Park Hayarkon on June 4 – the largest sum ever offered for a music act to play in the country.

The announcement comes less than a week after the band cancelled seven shows in Australia and New Zealand. The ’14 on Fire’ tour shows were called off in the wake of the suicide of fashion designer L’Wren Scott – the long-term girlfriend of singer Mick Jagger.

Promoter Shuki Weiss told the Jerusalem Post: “This is a historic and meaningful visit. In these day, when we hear calls for boycotts around the world, it’s not taken for granted that a band of this magnitude will come to Israel.”

Tickets ranging in price from £120-£500 will go on sale on Saturday.

In January, the band's bass player Darryl Jones visited Israel and performed with the Australian group Dead Daisies, at a sold-out show at the Barby Club in Tel Aviv.

Mick Taylor, a member of the Rolling Stones from 1969 to 1974, will be a special guest for the tour.