The Champions League is set to kick off this evening as the knockout stages begin.
This week marks the first leg of the play-off ties, with teams looking to reach the last 16. As the competition heats up, which teams are seen as having the best chances to win?
Paris Saint-Germain – 8/1
The defending champions are currently fifth favorites after a mixed performance in the league stage. PSG won four of their first five matches but failed to secure a win in the last three, falling short of the top eight.
Now, they face AS Monaco in the play-offs for a chance to enter the Round of 16. PSG can draw motivation from last season when they barely made it to the knockout stage before ultimately winning the tournament.
Vitinha is running the show for PSG in the Champions League 🎩
The magician’s key metrics prove he’s one of Europe’s best midfielders 🌟 pic.twitter.com/7VmVbdJO3Q
— LiveScore (@livescore) February 17, 2026
Will PSG become the second club to win back-to-back titles in the Champions League era?
Manchester City – 7/1
Manchester City has been somewhat under the radar this season. Pep Guardiola’s team is still competing for four trophies, having narrowed the gap on Arsenal in the Premier League.
City secured a top-eight finish in the league phase, despite some setbacks against Bayer Leverkusen and Bodo/Glimt. These slip-ups make them contenders, but not the clear favorites.
Barcelona – 7/1
Barcelona last won the Champions League over ten years ago, which is unusual for a team with their history. They reached the semi-finals last season but lost to Inter Milan.
Hansi Flick aims to improve on that performance this year, but two defeats to PSG and Chelsea in the league phase indicate there’s work to be done.
Bayern Munich – 9/2
Bayern Munich has been nearly unbeatable in Germany this season, averaging almost four goals per game in the Bundesliga. This team has scored 82 goals in 22 league matches, making them serious contenders in the UCL.
The German champions won seven of their eight league phase games, with a single loss to Arsenal being their only blemish. Few teams will relish facing Bayern in the knockout rounds.
Bayern Munich have created the highest xG (66.45) of any side in Europe’s top five leagues this season. 🎯 🔥 pic.twitter.com/Y6EazPdeNn
— WhoScored (@WhoScored) February 16, 2026
Arsenal – 7/2
Arsenal is seen as the favorites for the title following a flawless league phase. The North London club won all eight of their matches, becoming the first team to finish the league phase with a perfect record.
Their impressive victories over Bayern Munich, Inter Milan, and Atletico Madrid highlight their potential. Arsenal has never won this competition but may be in their best position to do so now.
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