Promoter Tavo Hellmund with F1 impresario Bernie Ecclestone

We knew this was coming. If Bernie Ecclestone thinks US taxpayers will finance Grand Prix events like the governments of Malaysia, China and Abu Dhabi, he’s sadly mistaken. After all, America governments do not even pay for our own Olympic teams!

Three Austin, Texas residents on Wednesday filed a lawsuit against State Comptroller Susan Combs, seeking to prevent race promoters from using $25 million from the Texas Major Event Trust Fund to finance the inaugural event, scheduled for June 2012.

Formula One: Austin residents file lawsuit over $25 million U.S. Grand Prix payment | Autoweek.