The Champions League truly kicks off Tuesday as the league phase of Europe’s most prestigious soccer tournament gets underway.
All the big teams are eyeing a place in the final in Madrid on June 5, 2027. But before that, the 36 clubs in the league phase must play eight games each, with the format running through to the end of January.
But which teams are favored to lift the Champions League trophy this season? Let’s dive in and examine all the major contenders.
The prediction markets at Kalshi are clear: the race for the Champions League in 2026/27 is almost too close to call.
PSG are the reigning back-to-back champions, but they aren’t favored to earn a third victory. That honor goes to Barcelona, who boasts a large contingent of the Spain national team that just won the World Cup.
Barcelona are the clear favorites, though not overwhelmingly so against the next group of contenders. Hansi Flick’s team is coming off back-to-back La Liga titles, and their goal now is to end a Champions League title drought that stretches back to the 2014/15 season.
Barcelona made some huge signings to help fulfill that mission. They beat out rivals Real Madrid for the signature of Rodri, who just guided Spain to World Cup glory and won the Golden Ball. Anthony Gordon was the other major addition and has enjoyed a red-hot start, with four assists in as many games.
But Raphinha and Lamine Yamal remain the most important players for Barcelona. The team missed out on signing Julian Alvarez following the departures of Robert Lewandowski and Ferran Torres, so the attacking duo will carry even more responsibility this season. Barcelona’s “Yes” contracts have jumped to 20¢ amid a perfect four-win start, which includes three five-goal performances.
Consecutive quarter-final exits in the Champions League for Real Madrid caused the club to turn back to Jose Mourinho. “The Special One” has twice won the Champions League, with Porto and Inter Milan, but could only make it as far as the semi-finals in his three-season first stint in charge of the team. Is Mourinho really the man to get Real Madrid back on top in Europe in 2026?
As ever at Real Madrid, Mourinho will be tasked with managing all of his superstar players. Kylian Mbappe and Jude Bellingham are both coming off spectacular World Cup performances, while Vinicius Junior signed a new deal after a flirtation with Arsenal. Real Madrid showed off its ambition with the $144 million addition of Yan Diomande, as well as Bernardo Silva and Marc Cucurella.
Real Madrid have won more Champions League titles than any team in history, and few other teams can match the talent level of their best players. If Mbappe and Bellingham are in form, they’re a threat to anyone. But Real Madrid under Mourinho are also highly combustible, so the sky-high ceiling of their potential also comes with a low floor.
Arsenal came heartbreakingly close to winning the Champions League for the first time in its history last season, but lost to PSG on penalties. Still, Arsenal should be bolstered by ending a 20-year gap in final appearances and should be a more confident side, having also ended its Premier League title drought.
Arsenal added significant reinforcements during the summer, picking up defender Ezri Konsa and midfielder Bruno Guimarães. Winning all eight league phase games again will likely be a tall task, though. Arsenal will face Bayern Munich and Real Madrid this season.
The English champion’s hopes in Europe might come down to how much they’re challenged in the Premier League this season. Arsenal are the clear class of the league, and if they’re able to leave the likes of Manchester City far behind, they’ll be more free to focus on finally winning the Champions League.
The reigning back-to-back champions are looking to become just the second team in the modern Champions League format (Real Madrid 2016-18) three times in a row. PSG certainly has the talent to do so. Ousmane Dembele, Desire Doue and Kvicha Kvaratskhelia form one of the best attacking trios in world football.
PSG’s credentials will be tested early, as they’ll face Manchester City and Barcelona in the first three games. They sold Bradley Barcola to Liverpool and missed out on signing Yan Diomande, but PSG added to its attacking depth with the likes of Ferran Torres and Mika Godts.
PSG usually stroll to the Ligue 1 title, giving them the advantage of resting star players for their European clashes. But PSG have lost one and drawn two of their opening Ligue 1 games. It’s too early to say PSG won’t again comfortably win Ligue 1, but they might be in for more of a fight than normal, which could impact their Champions League campaign.
Rounding out the top contenders is Bayern Munich, who looked destined to win the Champions League last season until they fell just short against PSG in an all-time semi-final matchup. They’re again viewed as a major threat to win their first Champions League title since the 2019/20 season.
The German champions bring back their core of stars that powered the team to a record 122 goals in the Bundesliga. Harry Kane, the favorite to win the Ballon d’Or, leads the team’s attack. Backing up the English star is Michael Olise and Luis Diaz, giving Bayern Munich arguably the best set of attacking players in the tournament.
Like PSG, Bayern Munich usually get the benefit of playing in a domestic league they can dominate without too much effort. Vincent Kompany has proven he’s among the world’s elite managers, and Bayern Munich backed him this summer with big-money moves for Ismael Saibari and Nathaniel Brown. Only an injury or age-related regression for the talismanic Kane will likely stop Bayern Munich from making another deep Champions League run.
Loading …
