There have been suggestions that Uefa would stop short of imposing such a harsh punishment on clubs the size of City and PSG - who have also been accused of breaching FFP rules - because of the potential damage their exclusion could do to the Champions League as a competition.
The lawyer from Slovenia said he had moments of doubt and made mistakes since taking office 2½ years ago.More news: High-stakes US-China trade talks resume as deadline approaches
Ceferin has blocked the secretive plan in testy meetings of the FIFA Council, which will meet in Miami next month.
Infantino has promoted the secretive offer from private investors, widely reported to be fronted by Japan's SoftBank, to revamp the Club World Cup and create a global Nations League tournament.
"By telling FIFA that we disagree with their current proposals ... we show them respect and we show respect to football, the game we love and the game we must protect", he said.
"A leader without doubts", Ceferin said, "is a delusional and risky leader".More news: House Democrats Divided On Strategy To Force Release Of Trump's Tax Returns
Following his re-election, Čeferin reassured the Uefa Congress that there would be no breakaway European Super League as long as he remains in charge, stating his intention to work "hand-in-hand" with the European Club Association "to design the club competitions of the future".
Ceferin was president of the Football Association of Slovenia between 2011 and 2016, and had been the President of UEFA since September 14, 2016.
Vowing to build on recent successes and developments in European football, including the launch of the continent's Nations League, he said: "The most unsafe thing we could do is to rest on our laurels and bask in our current situation".
"The only thing "great" about you would have been your past, and nothing else".More news: Larry Sabato Discusses Democratic Party, Justin Fairfax Following 2nd Allegation
"Thank you once again for placing your trust in me", Ceferin said after the vote was announced.