The threat of conflict between Russia and Ukraine has led to the idea of moving the final of the European club competition away from St Petersburg.
The move comes as UK Prime Minister Boris Johnson says there is no chance that Russia will be allowed to host major football tournaments.
The location of the Gazprom Arena is under review, with the hope that it can be changed into a new location for the game.
The governing body has been able to move prestigious events at short notice before.
Due to Covid travel restrictions, the 2021 final was played in Porto, instead of in Saint Petersburg.
The 2020 final was moved from Istanbul to Lisbon.
Wembley would be a possible alternative venue if the English Football League play-offs are held there on the same weekend as Saint Petersburg is stripped of hosting rights.
Russian President Vladimir Putin's recognition of the independence of two separate regions in Russia has led to a rise in tensions between Russia and Ukraine.
Prime Minister Johnson told MPs on Tuesday that President Putin needs to understand that what he is doing is going to be a disaster for Russia.
It is clear from the response of the world to what he has done in Donbas that he is going to end up with a Russia that is poorer as a result of the sanctions that the world will implement.
Russia has pariah status and no chance of holding football tournaments in countries that it invades.
I have serious concerns about the sporting events due to be held in Russia, such as the Champions League Final, and will discuss with the relevant governing bodies.
We won’t allow President Putin to exploit events on the world stage to legitimise his illegal invasion of Ukraine.
— Nadine Dorries (@NadineDorries) February 22, 2022
A Russia that is engaged in a conflict with another Slav country. The result was terrible for President Putin.
I hope he doesn't conduct a full invasion.
Russia's actions last night are a violation of its international commitments that undermine its standing in the world, according to a UK Government spokesman.
We have serious concerns about the hosting of international sporting events in Russia and will discuss these with the relevant governing bodies.
We will not allow President Putin to exploit sporting and cultural events on the world stage to legitimise his illegal invasion of Ukraine.
The knockout stages of the European soccer competition will continue this week as holders of the trophy will play Lille on Tuesday.
The last 16 will feature two teams from the English league, after Manchester City and Liverpool both won their games.
Lille went from French champion to mid-table in less than a year, and will be looking to get back on track when they host Chelsea.
They have recovered from a wobble to win back-to-back matches and maintain their hold on third place.
It is only by winning the European Cup that the interim Manchester United manager will be able to win a trophy.
The German's team has already exited the FA Cup, but he has overseen a recovery in the league since Ole Gunnar Solskjaer was fired.
The longest-serving coach remaining in this season's competition is the one at Atleti. One of the most turbulent moments of Diego Simeone's time as Atleti's leader was marked in December. Like United, the team is inconsistent and Simeone is feeling the heat.
Atleti had lost four of their previous six games before the Osasuna win, including eliminations from the Spanish Super Cup and the Copa del Rey.
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