'Russell Road' Raiders purchase stadium site - FOX5 Vegas - KVVU

'Russell Road' Raiders purchase stadium site

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A rendering was made of the possible future Raiders Stadium in Las Vegas. A rendering was made of the possible future Raiders Stadium in Las Vegas.
LAS VEGAS (FOX5) -

The landscape of Las Vegas will change to make room for a new stadium for the Raiders. 

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

The site will be the home for a 62-acre stadium for the football team. 

According to the Clark County Recorder's Office, escrow was closed at 11:30 a.m. Monday between Nevada Land Group LLC and LV Stadium Company LLC. The total sale was for $77,500,000. 

"That's a lot for 62 acres of land!" Sisolak said laughing. "Obviously, it's a very good piece of property."

$77 million is just the beginning. The Raiders need to be ready to keep spending big money.

"There's still a lot of issues." "The Raiders understand there's still a parking situation to resolve here," Sisolak said. "How they're going to do that? I don't know!"

The Raiders' brass could decide to build a large parking structure to make room for cars on the small property, but that idea isn't popular with fans who enjoy tailgating. Sisolak said the Raiders promised a solution and are researching ideas.

NFL team owners approved the Raiders' move from Oakland to Las Vegas on March 27

The team's choice to play on Russell Road wasn't a surprise at this stage of the game. Every rendering released by the team was created with the Russell Road site in mind, and the team submitted plans to the NFL which were based around the site.

Still, some people preferred that the Raiders would set up at the Bali Hai Golf Club, right next to the Welcome to Fabulous Las Vegas sign, because of its larger size.

The Raiders will have to spend millions of dollars to widen narrow streets and fix other problems with the surrounding area. Sisolak said he originally believed the team would want to wait for more detailed estimates on the work that would need to be done.

"The studies, to my knowledge, have not come back," Sisolak said. "It could easily get in excess of $100 million. Absolutely."

Stay with FOX5 and FOX5Vegas.com for developments. 

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