The most common and most likely answer to this crossword clue is the 3 plus 5 letter word RED CARDS
I've seen this crossword clue in The Guardian
R
E
D
C
A
R
D
S
More clues leading to the result RED CARDS
Buddy explains!
The straight part
We know that "Penalties for players/not clubs" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case penalties for players/not clubs = red cards.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does RED CARDS mean?
RED CARDS verb- To show (a player) a red card, and dismiss them from the playing area; to send off.