The Raiders officially purchased land in Las Vegas on Monday that will eventually house their $1.9 billion stadium.
Clark County (Nev.) Commissioner Steve Sisolak announced the Raiders and the NFL closed escrow on the proposed 62-acre stadium site, where the team will play beginning in 2020. According to state records, the Raiders bought the land for $77.5 million, which turns out to be a bargain for Mark Davis. The Las Vegas Sun reported the original asking price for the land was $100 million.
The Raiders’ land, which has been the team’s preferred site all along, is located just west of I-15, near Polaris Avenue and Russell Road, just west of Mandalay Bay.
The @Raiders @NFL have closed escrow today on their proposed 62-acre stadium site near I-15 & Russell Road. pic.twitter.com/0hlj5fBi1c
— Steve Sisolak (@SteveSisolak) May 1, 2017
Davis was given league approval in March to move the Raiders to Las Vegas. The team will play in Oakland for the 2017 season, but there’s been no determination where the Raiders will play in 2018 and 2019.