UEFA is investigating 76 Champions League and Europa League clubs for potentially breaking its Financial Fair Play rules.
UEFA says it will announce the first sanctions against clubs in April and more serious cases will be judged by June.
Clubs risk exclusion from future UEFA competitions for severe breaches of rules designed to curb their spending and encourage them to break even on football-related trading.
At a UEFA briefing on Friday, clubs under investigation were not identified.
UEFA says the 76 - almost one third of clubs which entered the Champions League and Europa League this season - had a total deficit of E600 million ($A925 million) according to its break-even calculations.
The clubs have been asked to give updated financial statements to an independent UEFA-appointed panel monitoring their finances.
