The Raiders have closed escrow on their future Las Vegas Raiders site

Raiders close escrow on their future home

Just a few days after announcing their draft picks from "Fabulous Las Vegas", the Oakland Raiders have closed escrow on the site of their future home.

Clark County Commission Chair Steve Sisolak tweeted the news Monday afternoon.

Raiders owner Mark Davis and Las Vegas have proposed a $1.9 billion stadium in downtown Las Vegas, largely funded by Bank of America and an increased hotel tax that will help raise $750 million of public money. 

This comes after NFL owners approved the Raiders' relocation application by an overwhelming final vote of 31-1 in March. The Raiders still have two one-year options to remain at the Coliseum, where they are expected to play until their new stadium is finished in Las Vegas.

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