PP Sports released a statement on Thursday night, claiming the termination was just a "strategic adjustment".
"We have to own the questions of leadership, we have to own the questions of policy, and there's a lot to be discussed here on that in the future. It's heartbreaking," CNN quoted the owner of the Eagles of the National Football League (NFL) as saying.
"These are needless deaths. Needless. We should be similar to most countries on the planet, and yet, we are an embarrassment, and a tragic embarrassment," Lurie added.
Arrascaeta restored his team's two-goal advantage with a diving header in heavy rain but Jose Pimentel responded with his side's second goal just before halftime.
TCL, founded in 1981, is one of the leading consumer electronics companies in China and has expanded its business to over 160 countries and regions worldwide.
There were also second round wins for fourth seed Stefanos Tsitsipas of Greece, fifth seed Alexander Zverev of Germany and seventh seed David Goffin of Belgium.
The 28-year-old is now 16th in the overall rankings, 16 seconds behind new leader Yates.
Caboclo added that national women's team manager Pia Sundhage was informed of the decision in March.
The 23-year-old, who has previously been linked to interest from Spanish giants, Real Madrid and FC Barcelona, has agreed a contract until June 2025. He will travel to Manchester to join his new teammates after the Netherlands' UEFA Nations League game against Italy on September 7.
"I was really focused each game and each point. Especially against top players, one point can make the difference. So I had to stay very calm and keep going," the world number 50 added.
It was a bizarre way for the Frenchman to lose the jersey which he had kept for three days after winning the stage two.