Veron and the Hong Kong Tourism Board have cancelled this year's Hammer Hong Kong race, scheduled for October 13. The much-anticipated Hong Kong Cyclothon event was also canceled.

Protests have escalated recently, with Hong Kong police relaxing guidelines on the use of deadly force the day before officers shot and killed a student at close range.

"We have continued our in-depth review and have now decided that the best course of action is to cease preparations and turn our attention to 2020, when the Hammer Series and the world's top pro cyclists will return to the streets of Hong Kong," Veron said in a statement.

Veron is owned by 11 WorldTour teams, including Team Ineos, Deceuninck-Quick Step, Jumbo Visma, and Mitchelton Scott, so the Hammer Hong Kong race is expected to attract many big name riders, who will likely be in China's Tour of Guangxi, where they will finish the season.

With the cancellation of the Hammer Hong Kong, Team Jumbo Visma will be the overall Hammer Series champion in 2019, even if the UCI refuses to sanction the Hammer event as an official series.

The Dutch team came out on top after winning the Hammer Stavanger in May and finishing second overall in the Hammer Limburg in early June. Deceuninck Quickstep, winner of Hammer Limburg, is in second place, and Team Sunweb is in third.

"It is a shame that our fans will not be able to see the best teams in the world competing for the overall title in the Hong Kong Hammer Series again this year," said Veron CEO Graham Bartlett.

"However, Team Jumbo-Visma is the outstanding team in this year's series and they deserve the title. We are already in the process of planning next year's Hammer Series and look forward to returning to Hong Kong for the big Hammer Series finale in 2020."

Velon was founded in 2014 after the major teams grew frustrated with the pro cycling business model. Velon currently includes 11 of the 18 WorldTour teams: Bora-Hansgrohe, CCC Team, Deceuninck-Quick Step, EF Education First, Lot Soudal, Mitchelton Scott, Team Ineos, Team Jumbo Visma, Team Sunweb, Trek Segafredo, and UAE Team Emirates.

Their hopes for radical change have been blunted by the UCI's control of the sport and the longstanding influence of the major race organizers. Veron recently filed an antitrust complaint with the European Commission alleging that the UCI is attempting to control on-bike rider data by hindering the development of the Hammer Race Series and changing the rules.

"Over the past 12 months, the UCI has used its regulatory power and political influence to attempt to interfere with the business activities of Veron and the teams in an inaccurate and illegal manner," Veron alleged.

According to Cycling News, the Commission will take several months to decide whether to hear the case, and a final verdict will likely take several years.

UCI told Cycling News that it has not yet received the complaint but will take the necessary action once it receives it.