I just found this on another forum!
Reports of 12 Dead and As Many as 30 Injured at Reno Air Races
According to our crews on the scene, a plane has crashed at the Reno Air Races just now.
According to reports pilot Jimmy Leeword was flying the Galloping Ghost, that went down soon after take-off during the beginning of the Unlimited race.
Numerours reports of the Unlimited plane sliding into the grandstand/bleachers injurying an unknown number of spectators.
Careflight and Reno Fire is enroute.
Reno-Stead airport authorities are asking everyone to go home.
All planes are grounded.
Stay tuned as we will be updating as details become available.
http://www.youtube.com/watch?v=rCNePeKn3Tg