Indianapolis ? The victory still stands. The debate is far from over.

Helio Castroneves’ win in the Indianapolis 500 was upheld Monday by Indy Racing League officials who rejected a protest lodged by the team of runner-up Paul Tracy.

After a two-hour hearing at IRL offices and two hours of deliberations, league vice president of operations Brian Barnhart said there was no conclusive proof that Tracy had pulled ahead of Castroneves by the time the yellow flag came out on the 199th lap of Sunday’s race.

“This was such an incredible set of circumstances,” Barnhart said. But, he insisted, no new evidence surfaced to make him change his mind.

Barry Green, the owner of Tracy’s car, has five days to lodge an appeal.

“I’m very disappointed, obviously,” Tracy said Monday night after leaving the Victory Celebration banquet. As for whether an appeal would be filed, he said, “It’s not in my hands now. It’s up to the team.”

Castroneves, meanwhile, was enjoying the trappings of a champion. Joined by team owner Roger Penske, he spent 45 minutes posing with the Indy 500 trophy at a track photo shoot in the morning, then headed to the champion’s dinner in the evening, after his victory had been upheld.

“It’s sad the way everything turned out because you want to celebrate with your team,” he said. “I’ll do that now.”

The disputed finish was sparked when Laurent Redon and Buddy Lazier crashed in Turn 2 on the second-to-last lap of the race. In IRL, racing ceases the moment the caution flag is waved.

A split second after the crash, Tracy passed Castroneves in Turn 3, but the dispute was about the precise moment the caution went into effect. Tracy said he was ahead when he first learned of the yellow; Castroneves said he let up on the throttle when he saw yellow, which allowed Tracy to pass.

“When you run the series, you have the experience,” Castroneves said. “You just have to follow the rules.”

Castroneves is in his first season in the IRL, which sanctions the Indy 500. Tracy drives for the rival Championship Auto Racing Teams (CART). On Sunday, Tracy suggested politics might play a role in this decision, but Barnhart dismissed that notion.

“Anyone who would look at how quick this decision had to be made would know the thought of IRL vs. CART can’t remotely cross my mind,” Barnhart said.

In Monday’s review following the protest, Barnhart said he considered “several” videotape replays, along with data from the drivers’ cars and statements from other drivers on the track, and came to the same conclusion.