Following their stunning rise to prominence, Paris Saint-Germain again look set to be the team to beat in the 2025/26 Champions League.
A stuttering start to the new-look competition last year left Luis Enrique's men in danger of an early exit, but they won their final three league-phase matches to snatch a play-off spot against Brest, and never looked back.
After smashing their French rivals 10-0 on aggregate, PSG moved through the gears to see off Premier League trio Liverpool, Aston Villa and Arsenal en route to the final, where they produced a footballing masterclass to hammer Inter Milan 5-0.
That was the club's first European Cup crown, but, boasting some of the game's most exciting young talents and with the skill, work ethic and athleticism to match, it seems highly unlikely it will be their last. The Ligue 1 champions are 5/1 joint-favourites to be lifting the trophy again in Budapest next May.
So Who Could Stop Them?
Liverpool
Liverpool @ 5/1
Liverpool are also 5/1 and, having splashed the cash to significantly strengthen their Premier League-winning squad, Arne Slot's Reds should be there or thereabouts.
Florian Wirtz and Hugo Etikike, at a combined cost of over £170million, will offer fresh options in the attack, while the additions of Jeremie Frimpong and Milos Kerkez should more than offset the departure of Trent Alexander-Arnold and the waning influence of Andy Robertson at full-back.
Barcelona
Barcelona @ 7/1
LaLiga powerhouses Barcelona and Real Madrid are both rated 7/1 to take the trophy back to Spain, and each will fancy their chances.
Barca reached the Champions League semi-finals amid a hugely successful domestic campaign last term before coming unstuck in a thriller against Inter, and, boosted by a return to a revamped Nou Camp and with loan signing Marcus Rashford looking to reignite his career, the Catalan giants should be a force again.
Real Madrid
Real Madrid @ 7/1
Serial European winners Madrid endured a rare failure in 2024/25, emphatically dumped out by Arsenal in the quarter-finals, and it remains to be seen how they will do as new boss Xabi Alonso implements his ideas.
Madrid always expect to do well in this competition, but their defeat to Arsenal and 4-0 mauling by PSG in the Club World Cup semi-finals this summer will have shaken their confidence somewhat.
Arsenal
Arsenal @ 8/1
But if we're using the Club World Cup as a yardstick, then Chelsea must come into the equation to reach Budapest. At 12-1, the Blues are not among the frontrunners, but their clinical 3-0 win over PSG in the CWC final raised more than a few eyebrows.
The signings of Joao Pedro and Liam Delap could solve their issues up top, and with Cole Palmer, Pedro Neto and Jamie Gittens providing the ammunition, Chelsea may now have the strike force to push them onto greater heights.
Of the other contenders, Arsenal could be a good bet at 8-1. They have also been busy in the transfer market, and if Victor Gyokeres brings his scoring boots with him from Portugal, he could be the final piece in the Gunners' puzzle.
Inter
Inter @ 22/1
Of the outsiders, Inter are 22-1 to go one better than last season, while Tottenham are 40-1 to add the Champions League to their Europa League crown.
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