Champions League winners odds revealed including Arsenal, Liverpool and Man City

Real Madrid are the defending champions (Picture: Getty)

Another year of the Champions League is right around the corner as Real Madrid look to continue their dominance in the competition.

Real won the competition for a record-extending 15th time last season with a 2-0 win over Borussia Dortmund at Wembley in May.

And with new summer signing Kylian Mbappe already hitting the ground running in La Liga, Carlo Ancelotti’s side will be fancied to reach the latter stages once again.

But competition will be fierce, with several Premier League sides amongst the favourites to lift the trophy.

Ahead of the opening gameweek, here’s a look at the latest odds for the Champions League winners.

Who are favourites to win the Champions League?

Despite winning last year, Real Madrid are only second favourite for to do so again this time around, with Manchester City installed as the bookmaker’s favourite for the Champions League this season.

Pep Guardiola’s side won the tournament in 2022/23 and were knocked out by Los Blancos on penalties in the quarter-finals last year.

Manchester City were knocked out on penalties last year but return as the bookies’ favourites (Picture: Getty)

Back in Europe’s premier club competition for a second successive season after a seven-year absence, Arsenal are third favourite to win the competition for the first time, with Bayern Munich just below them in the odds sheet having knocked out the Gunners last season.

Barcelona and Liverpool, both entering new eras under Hansi Flick and Arne Slot, are both expected to perform well, with Paris Saint-Germain priced slightly higher following the departure of Mbappe this summer.

Bayer Leverkusen, Atletico Madrid and the two most recent runners-up – Borussia Dortmund and Inter Milan – are all seen as dark horses who could cause an upset.

When does the tournament start and end?

The Champions League season begins on Tuesday 17 September, with the final set to take place in Munich on Saturday 31 May, 2025.

What is the new group format?

One major change for this year is the scrapping of the traditional four-team groups in place of a 36-team league format.

Rather than playing three teams twice, each side will be drawn against eight different opponents; two from each of the four seeding pots. Every team will play four games at home and four away.

Those teams that finish in positions one to eight (from the 36 teams involved) secure direct qualification to the round-of-16.

Clubs ranked nine to 24 enter into a knockout playoff contest, where victory will secure a spot in the round of 16. Teams in positions 25 to 36 are eliminated from the competition.

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