UEFA have confirmed that 76 clubs will be ordered to submit information about their finances ahead of new Financial Fair Play rules.
In April the Club Financial Control Board, which is responsible for implementing the new rules, will reveal which of the clubs will be referred to its disciplinary panel for sanctions.
The rules are being brought in to force so that clubs live within their means, and to try and prevent those with rich owners from simply spending their way to success.
In principle, clubs cannot spend more than their generated revenue although they are allowed cash injections of up to 45 million euros over three years. Spending on training facilities and youth development is exempt.
"UEFA is taking the lead to protect European football from greed, from reckless spending and financial insanity," Infantino told reporters.
"Financial Fair Play basically proposes helping the clubs to live within their revenues in a sustainable way," he added.
"UEFA is not seeking to exclude or isolate clubs, Financial Fair Play is to help the clubs but on the other hand UEFA is not afraid to take the necessary measures to protect the game."
UEFA said all the 237 clubs who qualified for European competition this season have been assessed. Of those, 103 were ruled exempt as their revenue or income was below the minimum of 5 million euros annually.
Reports in several media outlets, including the Daily Mail and The Guardian suggest that Manchester City and Paris Saint-Germain could be two of those clubs.
It is not known however, whether any Italian sides will be caught up in the sanctions.
Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's World Cup tipster competition  - £10,000 to be won!