The Football Association is investigating Southampton over the "spygate" scandal that resulted in the club's expulsion from Saturday's Championship playoff final.
Saints admitted observing a training session held by semifinal opponents Middlesbrough earlier this month, as well as two other similar incidents during the season.
The FA is looking at whether charges should be brought, following the decision by an English Football League independent disciplinary commission to kick Southampton out of the playoffs and dock the club four points for next season.
An FA spokesperson said on Thursday: "We will now investigate and won't comment further until we have assessed the evidence."
The club's appeal against their punishment was dismissed on Wednesday, with Middlesbrough replacing them in the Wembley final against Hull.
Southampton beat Middlesbrough 2-1 over two legs in the playoff semifinals.
Saints chief executive Phil Parsons said the sanctions imposed were "manifestly disproportionate".
Kicking the club out of the playoffs denies them a shot at a Premier League place and with it, an estimated £200 million ($269 million) in additional revenue as a minimum.
Southampton player of the year Leo Scienza described the punishment as "heartbreaking" and said the club's fans "definitely deserved better".
"We gave everything for this dream," he posted on Instagram. "Day after day, sacrifice after sacrifice, always believing we could bring this club back to where it belongs.
"For me, the dream of playing in the Premier League was something I fought for with everything I had. That's why this pain cuts so deep."
Tonda Eckert's future as Southampton boss is now in major doubt, while reports suggest players are considering legal action against the club.
Saints, relegated from the Premier League last year, said in a statement that "trust now needs to be rebuilt".
At the 2024 Paris Olympics, Canada's women's team – the defending champions at the time – were found guilty of spying on New Zealand, using a drone.
Football's world governing body Fifa banned three members of staff, including the head coach, Bev Priestman, from football for a year, and docked them six points.
The winners of Saturday's playoff final will join already promoted Coventry and Ipswich in the Premier League next season.