The reason behind the “firing” of TNA Knockout Velvet Sky as part of the Feast or Fired match on last Friday’s 1/23 Impact Wrestling on Destination America was due to the fact that Velvet’s TNA contract had expired according to a report by Mike Johnson. It is said that TNA did not choose to renew Velvet’s contract, so she is officially no longer a part of the company.
Source: PWInsider.com