'' Russell Roadway ' Raiders purchase stadium site

LAS VEGAS (FOX5) –

The landscape of Las Vegas will alter to make room for a brand-new arena for the Raiders.

Clark County Commissioner Steve Sisolak announced the Raiders closed escrow on a lot near Interstate 15 and Russell Road.

The website will be the house for a 62-acre stadium for the football group.

According to the Clark County Recorder’s Workplace, escrow was closed at 11:30 a.m. Monday in between Nevada Land Group LLC and LV Arena Business LLC. The total sale was for $77,500,000.

“That’s a lot for 62 acres of land!” Sisolak said laughing. “Undoubtedly, it’s a great piece of residential or commercial property.”

$77 million is just the beginning. The Raiders have to be ready to keep costs huge cash.

“There’s still a great deal of concerns.” “The Raiders understand there’s still a parking circumstance to deal with here,” Sisolak said. “How they’re going to do that? I don’t know!”

The Raiders’ brass could choose to build a large parking structure to make room for cars on the small home, however that concept isn’t popular with fans who take pleasure in tailgating. Sisolak said the Raiders assured a service and are researching ideas.

NFL team owners approved the Raiders’ move from Oakland to Las Vegas on March 27. The group’s option to use Russell Road wasn’t a surprise at this stage of the video game. Every rendering released by the group was created with the Russell Roadway website in mind, and the group submitted strategies to the NFL which were based around the website.

Still, some individuals preferred that the Raiders would set up at the Bali Hai Golf Club, right next to the Welcome to Fabulous Las Vegas indication, due to the fact that of its larger size.

The Raiders will need to spend millions of dollars to expand narrow streets and repair other issues with the surrounding area. Sisolak said he originally believed the group would wish to await more in-depth price quotes on the work that would need to be done.

“The studies, to my understanding, have not return,” Sisolak stated. “It might quickly get in excess of $100 million. Absolutely.”

Stay with FOX5 and FOX5Vegas.com for advancements.

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