Manchester City and Chelsea qualified for the 30 May (AEST) showpiece with respective victories over Paris Saint-Germain and Real Madrid this week.
On Friday (AEST), UEFA announced it remained committed to staging the game in the Turkish capital, despite the country being under a coronavirus lockdown until 18 May (AEST) and having the eighth-highest amount of active COVID-19 cases in the world.
UEFA also intended to operate with a reduced capacity at Ataturk Stadium, although new government rules announced on Saturday (AEST) mean City and Chelsea fans travelling would have to quarantine in government-approved hotels upon their return.
Turkey's red list status, which is effective from 17 May and will not be reviewed for three weeks, would also add significant complications for players returning to the UK before linking up with their national teams for UEFA Euro 2020 and the Copa America, unless exemptions can be secured.
Both international tournaments begin on 12 June (AEST), 13 days after the UEFA Champions League final.
Speaking at a news conference on Saturday (AEST), the UK's secretary of state for transport Grant Shapps said: "Fans should not travel to Turkey. The FA are in discussions with UEFA on this.
"We are very open to hosting the final but it is ultimately a decision for UEFA."
Wembley is set to host the EFL Championship play-off final on 30 May (AEST), casting doubt over any prospect of moving the UEFA Champions League final to England's national stadium.
Sky Sports reported that Aston Villa had offered to host the game at Villa Park, with the city of Birmingham holding an appeal in being roughly equidistant between Manchester and London.
UEFA is understood to be taking time to reflect upon the red list decision before making its next move.