The South American Football Confederation (Conmebol) said Friday it was investigating the incidents which marred the midweek South American Cup final between Brazilian hosts Sao Paulo and Argentina's Tigre.
Tigre, whose defender Lucas Orban said police barged into their dressing room and threatened one player with a gun, demanded sanctions against Sao Paulo after the Argentinians failed to emerge for the second half with the title awarded to the Brazilian team.
In a statement, Conmebol said it had opened an investigation "to establish with clarity what really happened and apply due sanctions."
Chilean referee Enrique Osses awarded the match to Sao Paulo, who were 2-0 up at the break, after Tigre failed to reappear, sparking a furious row between the two clubs.
The first leg in Buenos Aires had ended goalless.
Conmebol spokesman Nestor Benitez told AFP: "Conmebol is assessing all the data before deciding" what action to take.
Benitez said any decision on the application of possible sanctions would fall by December 21 at the latest -- that being the date of the draw for the next Copa Libertadores.
Tigre maintain that the referee should have suspended the match owing to a "lack of guarantees" for the visitors' security.