City have never won Europe’s premier club competition, with their best performance a run to the semi-finals under Manuel Pellegrini in 2015-16.
Pep Guardiola succeeded Pellegrini at Etihad Stadium that summer and it was hoped the Spaniard’s record at Barcelona, where he won the Champions League twice, would inspire the club to European success.
Last season the club were beaten by Tottenham on away goals in controversial circumstances following a thrilling quarter-final second leg at Etihad Stadium.
Fernando Llorente scored the decisive goal for Tottenham even though replays suggested he may have used his hand, while City thought they had won the tie in stoppage-time only for Raheem Sterling’s goal to be ruled out for offside via VAR.
That European disappointment is in sharp contrast to their domestic dominance as the Citizens have won back-to-back Premier League titles, with last season’s trophy forming part of a domestic treble.
Former Northern Ireland international Horlock, who made more than 200 appearances for City between 1997 and 2003, believes the current squad is good enough to finally lift the famous trophy, but they will need some good fortune to help them on their way.
“I think the Champions League is a tough one,” Horlock told the Daily Express.
“I’d love to say City [could win the trophy], and it could be. There’s probably three or four clubs that could win it, and they’re certainly one of them.
“We need the rub of the green, like we saw last year against Tottenham … The handball and so on and so forth.
“You need a bit of luck to win the Champions League I think, but they’re more than capable.”
City have made a fine start in their quest to lift the trophy this campaign, winning their opening two group-stage matches without conceding a goal.
That leaves them three points clear at the top of Group C, with their next game a trip to play bottom side Atalanta on October 22.