Allo shanks

Fly in this sentence is not a verb. It is a noun, actually a contraction for a fly ball (names a ball that has been hit way up in the air). The term "fly out" is part of a family of terms that designate the way the player has been called out (or eliminated) from the inning/game (includes ground out, strike out). When a batter hits a fly ball the chances are he is going to be called 'out' because those are seriously easy to catch. Thus the name for that move became a "fly out".

It becomes a compound verb phrase when you say "he fly'd out". In its <non contracted form> this would actually be said as "he fly-balled out". But human nature being what it is, this was contracted it to "fly'd out". That is why you do not say fly outed.

I hope this is clear. I haven't really had to talk grammar for many moons so I am a little rusty on the terms. I do play softball though and those are the terms we use (a bit of bragging here ...I never fly out )