According to Miller, the board of director of Hulman & Co., which oversees all of the Hulman-George family businesses (IMS, the IRL and Clabber Girl, a baking soda manufacturer) & is comprised of Tony, his mother & three sisters and attorney Jack Snyder, voted him due to his long-standing habit of using the profits from IMS events (the Indy 500, the Brickyard 400 &, as of 2008, the Indy MotoGP) to keep the IRL financially solvent.

By late afternoon, both Tony & his mother, IMS chairman Mari Hulman-George, were hitting back at the rumor. Both insisted that all of the board members were satisfied that, given the current economic conditions, revenues were as much as could be expected and that there were no immediate concerns about the viability of IMS. What WAS discussed, they said, was that Tony should concenrate on developing a new business plan regarding the running of the IRL, which all see as having the most potential for future revenue growth.

"Contrary to published reports, I continue to serve as CEO of IMS ... no changes in leadership or responsibility have been made," Tony told reporters in a press conference held outside the IMS offices. "We don't normally comment on board deliberations concerning our family business. However, the widespread, inaccurate reports and rumors caused my mother and me to conclude that it was necessary to set the record straight."

As of last night, SpeedTV.com reporter Robin Miller was saying that he had complete trust in the credibility of the sources for his story. 

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