Having surrendered their title last season, Pep Guardiola's side will go into Friday's group stage draw as the early favourites to be crowned kings of Europe once again
Having finally sealed La Decima last season, Real Madrid are priced at 4/1 (5.00) with William Hill before the balls are drawn to become the first side to retain the Champions League trophy.
|Champions League Winner Odds
|Odds from William Hill
Pep Guardiola’s side are expected to face strong competition from his former team though, with Barcelona priced at 5/1 (4.00) to draw level with the Germans on five titles after adding Luis Suarez to an already talented squad.
With no Manchester United in the group stages for the first time since 1995-96, Chelsea hold the Premier League’s greatest hope of bringing the trophy back to England, with odds of 8/1 (9.00) on offer on Jose Mourinho becoming the first man to win the competition with three different teams.
Just behind at 10/1 (11.00) sit English champions Manchester City, who will be hoping to finally translate their recent domestic success to the continental stage after a number of fairly underwhelming European performances.
Having missed out on a famous league and European cup double with an extra-time defeat against their city rivals in last season‘s final, Atletico Madrid are available at 14/1 (15.00) to go one better this time out by securing the title for the first time in their history.
Meanwhile, Paris Saint-Germain can also be backed at 14/1 (15.00) to reap the reward of their hefty recent investment by upsetting the traditional heavyweights and becoming only the second French side after bitter rivals Marseille to win the European Cup.
Back in the competition after a five year absence, Liverpool are rated alongside Arsenal and Borussia Dortmund as 20/1 (21.00) outsiders to make up for lost time by adding to their five European titles.
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Al Hain-Cole is an experienced tipster and avid follower of European football. He specialises in accumulators and if you would like to read more from Al you can follow him on Twitter here.