The 24.5 meter Giant Magellan Telescope project (GMT) has decided it is not interested in competing for funds offered by the National Science Foundation (NSF).

With just US$1.25 million available to the winner, the NSF competition was less about money and more about prestige. The NSF has been adamant that it has no significant money to support either project until the early part of next decade. But the Thirty Meter Telescope, which will still respond to the NSF’s solicitation, believed that a competition would at least demonstrate the NSF’s intention to eventually support one project — and that the winner would have an easier time attracting international partners.

But the GMT says it can go it alone, at least for now. On 23 March, the group began blasting at its mountaintop site in Chile. And they say they are nearly halfway towards raising the $700 million they need to complete construction.

If the GMT has already raised almost $350 million without NSF support, it makes perfect sense for them to thumb their noses at this piddling funding from the NSF, especially since the bureaucratic cost of getting that money will probably be far more than $1.25 million.