Like Gmen said it is an ethical issue, most definately. Contarary to what rigrider said, which I am sure he meant something other than editorial when he said,
If you're using it for editorial purposes, then there's nothing wrong with it IMHO.
in an editorial application it would get you two things. 1. Fired or reprmanded. 2. A reputation for falsifying an image.
In the example as originally posted, this was more than likely and advertising application. The goal in this would be to get the most compelling image to show the peak action to enhance the product. When you look at an ad you don't thnk if the image is an actual happened shot or a staged shot. You expect it to be staged for the effects desired.
However when you read a newspaper, magazine or an online edition of a news/sports publication what you see is expected to be a realistic presentation of the event described. To use this image from a "created or staged" image is against all ethics of journalism.
Remember the image shot by AP photographer Al Diaz of Alian Gonzalez hiding in a closet being held by some guy as police opened the door to find the two hiding. With guns at the ready, as they didn't know what to expect when the door opened, it was a realistic example of what happened. The reader can take one look at this photo and see what happened without even reading the caption. Now if Diaz had taken a shot of the officers opening a door, guns at the ready to find nothing. Then he took a shot of the man holding the kid as he was being removed from the house, cut them out and added them to the image of the cops opening the door, that wouldn't depict any sort of what really happened. Assuming that they found the kid sleeping in a bedroom and the man gathered him up to turn him over to authorities. In the latter case it would be falsifying an image. It didn't happen that way and any photographer who turned that in would be fired on the spot as soon as it was revealed that that is not what actually happened.
On shooting sports...If you see it happen then you didn't get it.