'I'm not surprised' - Ancelotti responds to Real Madrid's long Champions League odds

• Madrid start title defence against Celtic
• Man City, Liverpool, PSG & Bayern considered favourites
• Ancelotti says Madrid's long odds a "good sign"

WHAT HAPPENED? Real Madrid beat Liverpool in the final last season to claim their 14th European title, but last year's runners-up as well as Manchester City, Paris Saint-Germain and Bayern Munich are considered stronger candidates by bookmakers this time around.

WHAT THEY SAID: Ancelotti is not bothered, however, as he told reporters ahead of their clash against Celtic: "I'm not surprised they put us so far behind in the bookmakers. I see it as a good sign, last year they gave us even less of a chance in the stats. This year we have improved, we have a bit more... I think it's going to be the same as last year, we are going to compete until the end and hopefully we can compete all the way to the final."

THE BIGGER PICTURE: Real Madrid proved last season that they can never truly be ruled out when it comes to the Champions League. They pulled off incredible comebacks against Paris Saint-Germain, Chelsea and Manchester City to reach the final in 2021-22.

STORY IN TWO PHOTOS:

WHAT NEXT FOR REAL MADRID? After their mid-week game against Celtic, the Blancos will host Mallorca on Sunday.