Student or Learner
What is the exact meaning of ' out of respect'?
The match has been cancelled out of respect for the death of our previous manager.
You do (or in this case, don't do -- don't have the game) because of something that has happened.
The person has died. To show respect for him, the game is cancelled.
Another example: Someone has died. You didn't like the person very much, but you thought his wife was a lovely person. You go to the funeral out of respect for the wife.
I'm not a teacher, but I write for a living. Please don't ask me about 2nd conditionals, but I'm a safe bet for what reads well in (American) English.