The Champions League will heat up this evening as the competition’s knockout stages commence.
The first leg of the play-off ties take place this week, with the competing sides aiming to reach the last 16. As we prepare for the knockouts, which sides are favoured to go all the way?
Paris Saint-Germain – 8/1
The holders are only fifth favourites after an unconvincing league phase campaign. PSG won four of their first five games in this season’s competition, but went winless in their final three to miss the top eight.
Luis Enrique’s side must now face AS Monaco in the play-offs for the right to reach the Round of 16. PSG can take encouragement from last season’s success, when the Ligue 1 giants scraped into the knockouts before winning the tournament in style.
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
Can PSG become only the second club to win back-to-back trophies in the Champions League era?
Manchester City – 7/1
Manchester City are somewhat flying under the radar this season. Pep Guardiola’s side remains in the hunt for four trophies, having closed the gap on Arsenal in the Premier League.
City secured a top-eight spot in the league phases, despite blips against Bayer Leverkusen and Bodo/Glimt. It’s perhaps those slips that see the Citizens considered contenders, but not quite among the frontrunners.
Barcelona – 7/1
It’s been over a decade since Barcelona last lifted the Champions League, a drought for the Spanish side when considering their success this century. The Catalans lost out in the semi-finals last season after a compelling tie against Inter Milan.
Hansi Flick will want to go one better this time around. Improvement is required, however, with Barcelona losing both of their top-tier clashes to PSG and Chelsea in the league phase.
Bayern Munich – 9/2
Bayern Munich have been virtually unstoppable in Germany this season, averaging almost four goals per game in the Bundesliga. Vincent Kompany’s side have scored 82 goals in 22 league fixtures, a staggering statistic that has them among the UCL favourites.
The German champions won seven of their eight games in the league phase, with defeat at Arsenal the only blemish on their record. Few will fancy facing the Bavarians 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 are considered the favourites for the trophy after a flawless league phase. The North Londoners won all eight games, becoming the first team ever to finish the new league phase with a 100% record.
Their run included impressive wins over Bayern Munich, Inter Milan, and Atletico Madrid, to underline their Champions League credentials. Arsenal have never won this competition, but, arguably, have never been in a better position to do so.
