N of n
The 'possibility' group
The noun indicates a degree of likelihood that something will happen. The noun group after of indicates what may happen.
Labour would aim to give all three and four-year-olds the chance of a nursery school place.
Wool carpets may increase the risk of asthma in children, research into house dust mites has found.
The threat of a trade war between America and China receded, after an agreement to freeze imports of Chinese textiles for three years.
The preposition of is often followed by an '-ing' clause.
The Republican leader has not ruled out the possibility of running for president next year.
The preposition of is often followed by a noun group and an '-ing' clause. This pattern is N of n -ing.
chance danger hope likelihood possibility prospect risk threat
There is no prospect of this situation improving.