The Champions League group stage has been completed and the last-16 matches have been drawn.
Bayern Munich won the competition last season after beating Paris Saint-Germain 1-0 in the final in Lisbon, and Goal looks at who the favourites are to be victorious this time around.
Who are the favourites to win the Champions League?
Bayern Munich are 11/4 (3.75) to win the Champions League again following their triumph at Estadio da Luz in August 2020.
Kingsley Coman scored the winning goal to round off an incredible campaign by the Bundesliga champions, with Hansi Flick’s men winning every single game and netting 43 times in the process.
The title holders barely broke a sweat in winning Group A, having taken 16 points from a possible 18 and are heavy favourites to reach the quarter-finals by seeing off Lazio.
Manchester City are 7/2 (4.50) to break their duck and win the Champions League for the first time.
Pep Guardiola's side eased through their group with five wins and five clean sheets to their name, with the Catalan manager looking to guide City past the quarter-finals for the first time during his tenure.
Liverpool won the Champions League in 2018-19 and are 11/2 (6.50) to lift the trophy for the seventh time in their history.
Drawn into Group D, the Reds confirmed first place after five matches but face a tricky test against RB Leipzig in the last 16 as they look to avoid crashing out at this stage for the second season in a row.
Who are the underdogs to win the Champions League?
Juventus are priced at 12/1 (13.0) to win the Champions League for the first time in 25 years.
The Serie A champions have lost in the final five times since last lifting the trophy in 1996, and will certainly back themselves to see off Porto in the knockout stages after topping Group G ahead of Barcelona.
PSG reached the Champions League final for the first time last season and are 12/1 (13.0) to go one step further this time.
Boasting one of the most fearsome attacks in world football, Neymar scored six goals as the Ligue 1 side edged through a tough group and will now face Barcelona in the last 16 - hoping to avoid a repeat of 2017 when they famously lost 6-1 at Camp Nou.
Chelsea are 14/1 (15.0) to win the Champions League after a strong performance to win a fairly straightforward Group E ahead of Sevilla, Krasnodar and Rennes.
The highlight was certainly a 4-0 win in Seville and Frank Lampard’s side will have to be at their very best again to get past Atletico Madrid in the last 16.
Real Madrid are 14/1 (15.0) to win the Champions League for the fifth time in eight seasons.
Zinedine Zidane’s side won it an extraordinary four times between 2014 and 2018 but almost faced a humiliating group-stage elimination this year before topping Group B on the final matchday thanks to other results.
Atletico Madrid have proven themselves to be an incredibly tough side to break down in the last decade and are 16/1 (17.0) to finally win the Champions League.
The staunch defence of Diego Simeone’s men makes them a side that nobody wants to face, but the Spanish club are yet to lift this trophy after losing the final in 2014 and 2016 to Real Madrid.
Barcelona are also 16/1 (17.0) after a turbulent summer saw them almost sell Lionel Messi and change manager to Ronald Koeman.
The Liga side came second in Group G behind Juventus after losing 3-0 at home to the Italian champions on the final matchday, with Cristiano Ronaldo netting twice, and face PSG in the blockbuster tie of the last 16.
Who are the outsiders to win the Champions League?
Borussia Dortmund are 20/1 (21.0), and are one of the most exciting young sides in the competition but it remains to be seen if that translates into European glory.
Atalanta put in several impressive group-stage performances, including a 2-0 win over Liverpool at Anfield, but are out at 33/1 (34.0) ahead of their last-16 tie against Real Madrid.
Sevilla are 40/1 (41.0) to follow up last season's Europa League final win over Inter by lifting the Champions League title, whilst RB Leipzig are the same price.
At 150/1 (151.0) are the trio of Borussia Monchengladbach, Porto and Lazio, with all three sides rank outsiders to just get into the quarter-finals.
Odds correct at the time of writing. Please gamble responsibly.