Uefa president Michel Platini has insisted no club will be banned from playing in Europe if they are to be found guilty of breaching Financial Fair Play regulations.
Both Manchester City and Paris Saint Germain were suggested as potential victims of Uefa's tough sanctions after the Club Financial Control Body (CFCB) met earlier this month to investigate a number of cases relating to possible breaches.
(Manchester City will not face exclusion from the Champions League)
CFCB will publish its findings next month, and although no club will face exclusion from the Champions League, sanctions will still apply to any rule breakers.
"The first decisions will be announced in early May, but you will be disappointed if you are looking for blood and tears. There will be tough sanctions, but no teams will be excluded from European competitions," Platini told Le Parisien.
"It's not my job to talk about individual clubs, but let's say that PSG have a rather unique and atypical economic model. Their contract with QTA is innovative to say the least. It is up to the experts to say whether it is valid, though.
"I don't know whether PSG comply with FFP. I know that there was no problem in France, but the rules are different domestically."