AFP, NEW DELHI: Batting star Virat Kohli will pick up the Indian Premier League's largest-ever salary -- $2.7 million -- in this year's tournament, with a host of big foreign names including Australian captain Steve Smith also cashing in.

Kohli will stay with Royal Challengers Bangalore alongside South Africa's AB de Villiers, who will earn $1.7 million in the cash-rich event started by the Indian cricket board in 2008.

The Indian captain's salary for the eight-team, 20-over tournament spread over two months beats the $2.5 million earned by all-rounder Yuvraj Singh with Delhi in 2015.

Delhi Daredevils announced Ricky Ponting as head coach for the 2018 season. The batting legend coached Mumbai Indians to the 2015 title during a two-year stint.

Australian batsmen Smith and David Warner were also retained by their teams for $1.9 million each, making them the highest-paid foreign stars.