1) Manchester City

Outright odds: 3.750*

Round of 16 opponent: Schalke 04

The reigning English champions are the current favourites to lift the Champions League trophy after a favourable draw against German side Schalke 04.

City fell short at the quarter final stage last season after being stunned by an early blitz by domestic rivals Liverpool at Anfield but were outstanding in the Premier League last campaign.

The Manchester side’s European pedigree has been questioned, but this is arguably the best squad the club has ever possessed and Pep Guardiola has a realistic chance of leading them to their first Champions League final.

2) Paris Saint-Germain

Outright Odds: 5.500*

Round of 16 opponent: Manchester United

Paris Saint Germain are another side who dominate domestically but have yet to taste European success. Neymar and Kylian Mbappe headline PSG’s expensively assembled squad but they have never progressed beyond the quarterfinal stage in the Champions League.

After topping a strong Group C ahead of Liverpool and Napoli, the Parisians are well equipped to go further than that this time around. They have a strong advantage over Manchester United after their first leg win and are one of the leading contenders for the trophy.

3) Barcelona

Outright Odds: 6.00*

Round of 16 opponent: Lyon

Boasting the attacking talent of Messi, Suarez and Dembele, 2015 champions Barcelona are one of the most threatening sides in European soccer. They have enjoyed domestic success for some time now but will be desperate to emulate their eternal rival Real Madrid’s success in this competition.

The team is experienced with World Cup winners Pique, Umtiti and Busquets forming the spine of the team alongside the ever impressive Messi.

The fact that record signing Philippe Coutinho is not a guaranteed starter demonstrates the quality within a squad equipped to once again challenge for another Champions League title.

4) Real Madrid

Outright odds: 10.000*

Round of 16: Ajax

Reigning Champions Real Madrid have endured a tough start to life without their former talisman Cristiano Ronaldo. The Portugal star scored 15 goals on the way to winning last season’s competition and Real have certainly suffered from his absence in La Liga.

Despite finishing top of Group G Real were defeated twice by the group’s bottom side CSKA Moscow. They will need to improve significantly and avoid such poor performances to secure a fourth straight Champions League title.

They will still be favourites to progress after a first leg victory over a youthful Ajax side, but need to rediscover their form quickly to have a chance of winning this competition.

5) Liverpool

Outright odds: 11.000*

Round of 16 opponent: Bayern Munich

Last season’s beaten finalists Liverpool again feature in the top five of this season’s Champions League Power Rankings.

They were free-scoring during their run to the final last season but did benefit from some favourable draws before suffering defeat to Real Madrid. The Reds have not been as fortunate this season with Bundesliga Champions Bayern Munich presenting a formidable challenge in the round of 16.

6) Bayern Munich

Outright odds: 11.000*

Round of 16: Liverpool

Bundesliga champions in each of the last six seasons, Bayern are in the unusual position of chasing Borussia Dortmund in their domestic league. They also rank below their opponents Liverpool in Pinnacle’s Champions League Power Rankings.

Bayern have progressed beyond the round of 16 stage in each of the last seven seasons but this progress is far from assured this campaign.

It would certainly be bold to rule out Bayern at this stage however, and some may see them as the value pick in the unusual position of outsiders.

7) Atletico Madrid

Outright odds: 11.000*

Round of 16 opponent: Juventus

Another outsider with strong European pedigree, Atletico Madrid face the difficult task of defeating a strong Juventus side in the round of 16.

Atleti have featured in two of the last Champions League finals as well as lifting last season’s Europa League. Diego someone has strengthened his squad over that time period with Thomas Lemar, Rodri and Nikola Kalinic just some of this summer’s additions.

Their low rank is due to the difficulty provided by a tie against Juve, however Atleti are a side well-used to overcoming the odds in this competition. This has proved to be the case once again in this year's tournament with Juve now outsiders to advance.

8) Juventus

Outright Odds: 16.000*

Round of 16 opponent: Atletico Madrid

Juventus have come close to adding to their two Champions League on a number of occasions in recent years, missing out to Spanish opposition in two finals.

The addition of superstar Cristiano Ronaldo to a side already dominant in Serie A was a clear move towards finally capturing the one title that has so far eluded their grasp, and they will hope to have all but secured another Serie A title by the time the Champions league restarts in February.

Atletico Madrid have proved difficult opposition so far with Juventus left needing to overcome a two goal deficit just to qualify for the next round.

9) Tottenham Hotspur

Outright odds: 16.000*

Round of 16 opponent: Borussia Dortmund

After looking down and out after just three games of this season’s competition, Tottenham Hotspur turned around their campaign with vital results against former champions Inter Milan and Barcelona. They continued this form with a confident victory against Bundesliga leaders Borussia Dortmund which has enhanced their chances of winning the competition.

10) AS Roma

Outright odds: 76.000*

Round of 16 opponent: Porto

2018/19 semifinalists Roma are already a long way behind leaders Juventus in Serie A after a glut of injuries to their best players.

If the Romans can ensure everybody is fit for the resumption of the Champions League they possess a squad capable of advancing past Porto, especially after a narrow first leg victory, but it is difficult to see them emulating last season’s run in the competition.

11) Olympique Lyonnnais

Outright odds: 76.000*

Round of 16 opponent: Barcelona

A tough draw for Lyon but they will approach the match with some hope after credible performances against Manchester City in the group stage.

Their dynamic attack, which features the likes of Memphis Depay, Nabil Fekir and Maxwel Cornet, seems better suited to exploiting space left behind on by attacking opponents for counter attacks. These opportunities are comparatively rarer in Ligue 1 where Lyon are expected to dominate most matches.

As Manchester City discovered, Lyon have the potential to be more of a threat to top sides than their league form would suggest.

12) Manchester United

Outright odds: 101.000*

Round of 16 opponent: Paris Saint-Germain

Manchester United have struggled this season with Jose Mourinho’s men slumping to their lowest points tally at this stage in any Premier League season.

United were overly reliant on the brilliance of David De Gea last season and the cracks have started to show with the club conceding more goals in their opening 17 Premier League games than they did all of last season.

After a good run of form these issues reemerged and they will have to pull off a remarkable comeback to avoid elimination to PSG after a disappointing defeat.

13) Borussia Dortmund

Outright odds: 126.000*

Round of 16 opponent: Tottenham Hotspur

An undefeated run of 15 games in the Bundesliga demonstrates the potential of an exciting Dortmund side. Their attack featuring Marco Reus, Paco Alcacer and young English talent Jadon Sancho has been one of Europe’s most prolific.

Despite their domestic endeavours, a disastrous result against Spurs has made any further progress in Europe unlikely.

14) FC Porto

Outright odds: 126.000*

Round of 16 opponent: AS Roma

Porto will be thankful for a kind draw against AS Roma which should see them avoid the hammering they took at the hands of Liverpool in their last venture into the Champions league knockout rounds.

The Portuguese side are a familiar sight at this stage and are in the familiar position of outsiders capable of causing a surprise, but unlikely to threaten the true tournament favourites.

15) Ajax

Outright odds: 176.000*

Round or 16 opponent: Real Madrid

With an average age of just 23.5 years Ajax are the most youthful team remaining in the competition. They were excellent in the group stage, qualifying undefeated, but drew champions Real Madrid.

There is a sense that this young side could upset the Spaniards. They possess genuine quality in the shape of Hakim Ziyech as well as the incredibly promising Matthijs De Ligt and Frenkie De Jong.

Certainly this side has the potential to cause an upset or two but their inexperience may count against them in the high pressure environment of the Champions league knockout rounds.

16) Schalke 04

Outright odds: 301.000*

Round of 16 opponent: Manchester City

Second place finishers in the weakest of the champions League groups, Schalke currently sit comfortably in the bottom half of the Bundesliga and truthfully would have needed a favourable draw to have a realistic chance of Champions League progression.

A Manchester City side that broke several Premier League records last season is certainly not that draw and it will take a major surprise for Schalke to even reach the quarterfinal stage.

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