Champions League 2023-24 Power Rankings: Arsenal bottom after dreadful draw but Atletico Madrid, Barcelona and PSG all rise

Let's face it, Arsenal were surprisingly underwhelming in both games against Porto, only scraping through on penalties in the end. Not that the Gunners were bothered, of course. On the contrary, they understandably took plenty of positives out of the second leg. Firstly, they proved their mettle in the shootout. Secondly, they ended a run of seven consecutive last-16 eliminations since last reaching the quarter-finals in 2010.

Can a hopefully liberated Arsenal now go on to win a first Champions League? It still seems unlikely, as they're presently engaged in a titanic three-way tussle at the top of the Premier League that could drain them of valuable energy - and have now been given a most arduous path to Wembley.

Mikel Arteta's men will have to beat Bayern Munich in the quarters and then overcome either Manchester City or Real Madrid in the last four just to give themselves a chance of lifting the trophy. Arsenal have a terrific young team but this kind of challenge looks beyond them right now, given their lack of European experience.

Thomas Tuchel's tenure has unravelled and he will leave the Allianz Arena at the end of the season - but could he bow out by claiming his second Champions League title? It's not impossible, especially as Harry Kane is scoring goals for fun.

The prolific England striker stepped up again in the last-16 second leg against Lazio to save Bayern's season and the Bavarians definitely have sufficient talent to eliminate Arsenal in the quarters. It's the kind of tie that could go either way, of course, but the fact that the second leg is at the Allianz Arena could prove decisive.

Nonetheless, it's hard to shake the feeling that the obvious lack of togetherness at the club will eventually catch up with Tuchel's team.

The Blancos are blessed to still be in contention. They were second-best in both legs of their last-16 tie with RB Leipzig, who knew full well that they had blown a glorious chance to eliminate Madrid - hence Xavi Simons' tears at the full-time whistle at the Santiago Bernabeu.

However, this is Madrid we're talking about here. They've won several Champions Leagues without being remotely close to the best team in Europe. Conquering Europe is just what they do. They always find a way to win, and having players capable of moments of magic like Jude Bellingham and Vinicius Junior helps. For that reason alone, they remain a serious threat but, on current form, it's just so hard to see them getting past City. A repeat of last season's painful exit at the Etihad looks inevitable right now.

As expected, BVB beat PSV to progress to the quarter-finals - but they made seriously hard work of it. Dortmund were sensational during the first half hour of the second leg at Signal Iduna Park, full value for the lead given to them by Jadon Sancho, but they were awful after the interval and would have been taken to extra-time had it not been for a shocking late miss from Luuk de Jong.

Still, just reaching the last eight represents an amazing achievement for Dortmund, who, lest anyone should forget, topped this season's group of death. They'll be underdogs once again in the quarter-finals, against Atletico, and that should suit Edin Terzic's team right down to the ground, as they have already proven against the likes of Paris Saint-Germain, AC Milan and Newcastle.

Dortmund still have it all to do but they can dare to dream after a draw that could have gone a hell of a lot worse.

Barcelona have been desperately unfortunate with injuries to key players this season but they were incredibly lucky to run into Napoli in the last 16, given the Partenopei have suffered a spectacular implosion since winning the Serie A title last season. Even then, the Catalans weren't especially convincing, with Barca benefiting from a favourable VAR call and a crucial miss from Jesper Lindstrom in the dying minutes.

However, the latest batch of La Masia graduates were absolutely brilliant, particularly Pau Cubarsi and Lamine Yamal, and reaching the last eight for the first time since 2020 means the pressure is now well and truly off Xavi's young side, who are expected to be buoyed by the return of some key players in the coming weeks. That means they'll be quietly confident of upsetting old rivals PSG in the quarters, particularly with the second leg at home...

What to make of Paris Saint-Germain? Poor in the group stage but impressive in seeing off Real Sociedad in the last 16, Luis Enrique's inconsistent side just don't look solid enough to end the club's agonising wait for a first European Cup.

And yet, with Kylian Mbappe on top form, absolutely anything is possible. For all the problems behind the scenes at the Parc des Princes ahead of his seemingly imminent summer exit, the Frenchman remains the most feared forward in world football and Friday's Champions League draw has presented him with a golden opportunity to give PSG the perfect parting gift.

Atleti's domestic form is really poor. Clean sheets have become a bit of a rarity - which is shocking for a Diego Simeone side. And yet nobody would be in the least bit surprised if they made it all the way to the Champions League final.

Why? Well, the reason is twofold. Firstly, there's the fact that in battling past Inter on penalties after the one truly high-quality last-16 tie, Atleti proved that they remain a formidable prospect in continental competition - particularly in front of their own fans at the magnificent Metropolitano.

Secondly, they're now on the right half of the draw and are clear favourites to defeat Borussia Dortmund in the quarter-finals. Either PSG or Barcelona will be lying in wait in the semis but you can be absolutely certain that Simeone and his players would relish tackling either team. A third Champions League final is well and truly on for the Argentine.

Still No.1 by default? Manchester City don't look anywhere near as impressive as last season. They're conceding a worrying amount of goals and were battered during the second half of their Premier League draw with Liverpool.

However, for all the chinks in their armour, they still look a cut above any other side left in the Champions League. Indeed, if Kevin De Bruyne and Erling Haaland continue combining to such devastating effect, they'll take some stopping, particularly as Phil Foden is probably in the form of his career.

Granted, they're on the tougher side of the draw but it's still hard to see Madrid beating them over two legs - and the same goes for their potential semi-final opponents, Arsenal and Bayern.