Indianapolis Motor Speedway released a statement Wednesday afternoon reiterating Tony George’s position as CEO of the Speedway.

IMS officials were responding to published reports that George had been voted out of the position during an IMS board meeting Tuesday night.

SPEEDtv.com reported that George was essentially fired by his three sisters, who were angry over excessive spending estimated at $600 million since he started the Indy Racing League in 1996. That report and others indicated the IMS board might be interested in hiring Humpy Wheeler to replace George.

However, a spokesman for George indicated the story was incorrect and that a statement would be released soon. George told the Indianapolis Star that he was still in control of the speedway.

"I am still CEO and still president of Indianapolis Motor Speedway Corporation, Hulman and Company, and CEO of the Indy Racing League," George was quoted as saying by the newspaper.

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IMS statement

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http://www.theindychannel.com/video/19582040/index.html