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Raiders purchase land near Las Vegas Strip for new stadium

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LAS VEGAS — The Oakland Raiders have checked off one more item on a long to-do list in their effort to move to Las Vegas after buying more than 60 acres near the Las Vegas Strip where their partially tax-funded, 65,000-seat stadium is to be built.

A sale deed that became effective Monday shows a team-owned company paid $77.5 million for four parcels in an area west of the Mandalay Bay hotel-casino. Projections from the public board overseeing the $1.9 billion project had put the cost of the land at $100 million.