Finlay Tarling’s team, NSN Development, have withdrawn from the remaining stages of the Volta a Portugal following the British cyclist’s death.

The 19-year-old died following an accident during the eighth stage of the race on Friday.

Organisers confirmed the race will continue with the penultimate stage on Saturday, while tributes will be held for Tarling before the start.

In a statement, the Volta said it had been a “tragic day for cycling” and the race would be held in an “atmosphere of profound mourning”.

It added that “as a sign of respect and mourning” the main sponsors of the event had agreed to cancel all activities for the remaining two stages.

“The race continues. There will be a sporting competition, but not a party… This Saturday, the Volta rides for Finlay.”

Welshman Tarling was competing for the NSN Development Team when the incident occurred on the 166.8km route from Melgaco to Fafe on Friday.

In a statement provided to local media, Major Tiago Machado of the National Republican Guard said there had been “a collision between the cyclist and a light goods vehicle” and that an investigation was under way.

“Following Fin Tarling’s tragic passing on Friday, the NSN Development Team has withdrawn from the remaining Volta a Portugal stages,” NSN said in a statement on Saturday morning.

“With the full support of Fin’s parents, the WorldTour team will race on at Czech Tour and the Arctic Race of Norway. We will continue to hold Fin in our hearts as we race in his honor, doing what he loved most.

“We want to thank everyone in the cycling community and beyond for the incredible support at this difficult time.”

Tarling, the younger brother of Netcompany-Ineos rider Josh, had raced for Great Britain on the road and track.

He looked to be following in the footsteps of his older brother Josh as a time trial specialist.

He finished in third in the under-23 men’s individual time trial at the British Championships in June and competed in the Tour of Britain just under 12 months ago.

“This is not the time for speculation about the circumstances of the accident. The incident is being investigated by the GNR Command, which is responsible for rigorously establishing the facts,” the Volta added.

“We all remain deeply shaken.

“Cycling is a sport that involves risks, but we are never prepared for a tragedy of this magnitude. Finlay lost his life. A family lost a son. A team lost a team-mate. Cycling lost one of its own. It is a tragedy that transcends the competition itself.”