Matt Morning/Shazamm/ESPN ImagesKagy at X Games 15.

This just in: Chad Kagy is off DC Shoes. In a very humble statement from Chad, here's the deal:

"Got off the phone with DC shoes not long ago and due to budget cuts and the reallocation of funds and effort toward the core of their company (skate) they will not be renewing any contracts that are expiring this year in the other sports they work with. Since I'm the only BMX guy on the team with a contract expiring, I will be the only guy leaving the team. Rough budgets make for quick changes all around. It was a good 9 years with DC and I wish them all the best in the future."

So I'll give it to Chad. He couldn't have left the team with any more dignity, which is respectable to begin with. But let's think about this for a second, in terms of what Chad has accomplished in just this past year.

• Second place vert finishes at the Portland, Salt Lake City and Orlando Dew Tour Stops.

• Second place overall in vert standing for the 2009 Dew Tour.

• Twelve day tour of Iraq last month, doing demos for U.S. troops.

• Silver medal in Big Air at the 2009 X Games.

• Bronze medal in vert at the 2009 X Games.

But, he's not a skateboarder and his contract was up. I understand that times are tough and that the economy is in the toilet, but Kagy had a pretty amazing year, and every single time I saw him at a comp or on TV, he was repping DC. Simply put, Chad could not have done his job as a sponsored athlete anymore better than he already was doing. But he was still let go.

Is this simply a sign of tough economic times, or an indication that being an amazing, progressive athlete just isn't enough anymore? Maybe things would have been different if Chad had his own TV show?