New Delhi, Jan 19 (Reuters) – The most expensive auction in India has come to an end for now, but there are signs of the bidding frenzy taking off in the country’s capital.
The auction for the sale of the city’s second-largest stadium to an American sports company for $2 billion has ended with the winning bid of $1.4 billion, according to data compiled by Reuters.
The bidding for the auction of the home of Indian football’s World Cup champion Bengaluru FC, which the United States purchased in March for $1 billion, was about $2.8 billion ahead of its close.
The winning bid was $1,843 million ahead of the close of the bids, and it was followed by bids from an unnamed consortium led by Dubai-based Royal Challengers of the UK.
The consortium had hoped to raise about $5 billion in the sale.
The Bengaluru stadium, which has been home to Indian football since 1995, is home to the Indian national team.
The bid for the stadium, on the outskirts of the Indian capital, was for the right to host a football match between the national team and an American team, according a statement by the auction house.
The stadium will be built in a stadium that will accommodate the Indian team.
Indian football has been hit by a string of corruption scandals that has left the country in turmoil for the past several years.
The team has also been rocked by allegations of payoffs to players, officials and officials close to the government.