An economic downturn and adverse economic conditions may harm our business.
An economic downturn and adverse conditions in the United Kingdom and global markets may negatively affect our operations in the future. Our Match day and Broadcasting revenue in part depend on personal disposable income and corporate marketing and hospitality budgets. Further, our Commercial and sponsorship revenue are contingent upon the expenditures of businesses across a wide range of industries, and if these industries were to cut costs in response to an economic downturn, our revenue may similarly decline. Weak economic conditions could also cause a reduction in our Commercial and sponsorship, as well as our Broadcasting and Match day revenue, each of which could have a material adverse effect on our business, results of operations, financial condition and cash flow