Champions League power rankings: 6 early favorites to lift the trophy ahead of league phase

The Champions League returns Tuesday, and with it comes the bragging rights, bold predictions and inevitable letdowns. Some clubs already looks like they’ve got the firepower to go all the way, while others are hanging on by reputation more than form. So, which squad is really built to win it all? Luis Miguel Echegaray shares his answer with his early top six favorites to go all the way.

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1. Liverpool

The top pick shouldn’t be a surprise because at this very moment, Arne Slot’s squad is best equipped to become champion and win its seventh Champions League/European Cup and the first since 2018-19.

We have to also remember how the Premier League champion kicked off the tournament last time around, which was also Slot’s managerial debut with the club. In 2024-25, the Reds ended at the top of the league phase table by earning the most points (21) and wins (7) out of any club and won every game at Anfield, scoring 10 goals and conceding only one. Their only loss came in the final matchday against PSV Eindhoven and this was mainly because the side was heavily rotated after guaranteeing a top-spot finish. In the end, PSG — the eventual champion — knocked Liverpool out in the Round of 16 in a penalty shootout after a tremendous battle at Anfield.

But this season, Liverpool is far, far deeper and its massively aggressive summer in the transfer market (£446 million) was for this exact reason. Florian Wirtz, Alexander Isak and Hugo Ekitike bring so much quality, Slot will be able to give more rest to 33-year-old Mohamed Salah whenever needed. These new signings also push other members to compete for their places and create healthy competition, that’s why someone like Cody Gakpo, for example, continues to maintain his place.

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Now, the first eight matches do offer some tough tests so Anfield’s home support will once again be needed. And the true challenges will come in the knockout stages, when the marathon season asks a lot of your squad. But again, that’s why the money was spent. All in all, when you’re the defending champion of the richest league in the game and follow it with a record-breaking summer of spending and kick things off with four straight wins, that says a lot about the objectives of a champion.

Liverpool wants it all and therefore leads my rankings.

2. Paris Saint-Germain

The defending champion made history last season with its first ever Champions League trophy and to be honest, I saw it coming from January. Thanks to the departure of Kylian Mbappé, Luis Enrique was able to fully focus on his do-or-die philosophy where the collective will of the team was more important than any individual.

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Several players did remarkably well and truly outperformed expectations, beginning with Ousmane Dembélé, whose 33 goals and 13 assists across all competitions catapulted him into the Ballon d’Or conversation. But it wasn’t just about him. From the wonderful 20-year-old Désiré Doué to January’s arrival Khvicha Kvaratskhelia, PSG’s weapons were too overwhelming for anyone last season. The French giants also achieved a historic treble, placing them as the only French team to win Ligue 1, Coupe de France and the Champions League in one season.

After losing to Chelsea in the Club World Cup final this summer, PSG clearly needed a rest and the Spanish manager modified pre-season in August in order to make sure his squad avoided major physical and mental concerns. The first four league games of the season have therefore felt pretty much like preseason fixtures as Luis Enrique has utilized a lot of his young players to come off the bench. PSG is so rich in talent that it doesn’t even matter as it has won every match.

There are some worries, however, as Dembélé and Doué suffered injuries during the international break, forcing the club to complain to the French FA for causing “significant sporting consequences” and looked for “swift and immediate corrective action.”

But in terms of the Champions League, I see PSG’s league phase journey similar to last season, which was slow. It’s a tough set of matches that includes Atalanta, Barcelona, Bayer Leverkusen, Bayern Munich, Tottenham and Athletic Club, Sporting and Newcastle United.

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That’s not easy.

But I think, once the knockout stage arrives, Luis Enrique and PSG will once again test its might and look to join Real Madrid as the only club to win back-to-back Champions League titles. It’s a hard challenge but PSG can finally say it has been here before.

3. Barcelona

Last season, Barcelona was a goal machine in the competition, scoring 43 goals in 14 matches, which according to Opta Analyst, is an average of 3.1 goals a match. In addition, Hansi Flick has a fantastic winning and scoring record in the Champions League. When you combine Bayern Munich and Barcelona, the German manager has led his teams to score a combined 100 goals in 32 matches.

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This is a young team that keeps growing and, in this particular tournament, will keep developing into a squad that can go far. And here’s the thing, the Catalan club is not just about Lamine Yamal, far from it. On Sunday, Barcelona destroyed Valencia 6-0 with a treble of braces from Fermín López, Raphinha and the veteran Robert Lewandowski. Yamal’s current situation has him sidelined with a groin injury due to his time with the Spanish national team in the international break and Flick is furious with the Spanish FA, so his availability for the first game against Newcastle United is up in the air. But, Barcelona don’t just depend on him.

I will say, however, that Barcelona’s chances of winning its first Champions League title in more than a decade is down to handling their initial schedule (toughest matches include away at Newcastle United, PSG and Chelsea) and being able to get a top-eight spot in order to rest as much as possible in 2026. Also, we have to see how Flick manages the roster because he knows that success is largely dependent on keeping them healthy in a marathon season. Marcus Rashford’s arrival helps and there are other additions such as goalkeeper Joan García (to start as Marc-André ter Stegen recovers from back surgery) but the question will be, is it enough? Can the Blaugrana defend a league title whilst also reaching a Champions League final? Will they finally be able to play at their revamped Camp Nou?

Time will tell.

4. Bayern Munich

Under Vincent Kompany, Bayern Munich is a very impressive machine and not enough is being said about their chances from folks who don’t watch the Bundesliga.

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Just like Liverpool, the Bavarians are also searching for their seventh Champions League/European Cup title and their first since 2019-20, when they defeated PSG thanks to a Kingsley Coman goal. Last season, they were knocked out by Inter Milan in the quarterfinal stages, but this was more about Inter’s resiliency taking advantage of a Bayern team that couldn’t finish. They took 40 shots in two matches and scored only three times. The first leg was a 2-2 draw in Milan whilst the second leg in Munich saw Inter come out on top with a 2-1 result, despite the German squad looking to find an answer. The squad was also dealing with absences including Alphonso Davies, Jamal Musiala, Manuel Neuer and Dayot Upamecano.

But this summer, they strengthened with the additions of Luis Díaz, who has started extremely well with his new club. The Colombian already has three goals and two assists, making him the fourth new signing in Bayern Munich history to score three goals in his first three league matches. Nicolas Jackson, on loan from Chelsea, is also a good addition and, at 24 years old, his ceiling remains very high. The German game will be great for him and most importantly, he will help alleviate the pressure on Harry Kane (more on the prolific English striker in a second). Jonathan Tah’s arrival from Bayer Leverkusen also provides depth and there is also good news regarding Musiala’s horrific ankle and leg injury, which he suffered during the Club World Cup, as the young German star is progressing nicely and aims for a return later in the year.

All in all, when you add Michael Olise (four goals, an assist in four matches in all competitions so far) and Serge Gnabry (two goals, two assists) there’s a lot of creative power here.

And it all begins and ends with the aforementioned Kane, who, alongside Erling Haaland, is currently the best center forward in the game. Kane does not stop. This season, he has continued on his amazing scoring record from last campaign (Bundesliga’s top scorer with 26 goals) as the Englishman already has five league goals (eight in all competitions) and three assists.

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On Saturday, Bayern thrashed Hamburg 5-0, making it three league wins from three. We’re only in mid-September(!) and the defending league champion already has 14 goals.

Some of the club’s league phase matches are tricky as they include the opener against Chelsea with a trip to PSG and Arsenal, but as long as it keeps a top-eight finish and a bye into the Round of 16, I don’t see why Bayern Munich couldn’t do everything possible to reach the final in Budapest on May 30 next year.

5. Real Madrid

Something is brewing in Madrid under new manager Xabi Alonso.

The beginning of the campaign has been impressive for Los Blancos as they currently lead La Liga with four victories from four. It’s early but the transition from Carlo Ancelotti’s philosophy is quickly being picked up by the squad. There were no questions about Mbappé, who is the bona fide star as the Frenchman is already on a mission to deliver after last season where he broke Ivan Zamorano’s 32-year-old record and ended his first Real Madrid campaign with 44 goals in all competitions. A truly incredible achievement. Currently, his four league goals lead the scoring charts in Spain, whilst 20-year-old Turkish star Arda Güler is not only delivering, but he is becoming a trusted weapon for Alonso. Both scored Saturday against Real Sociedad.

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But Mbappé is still searching for that first Champions League title so he will need his Real Madrid teammates to also lead the way, including Vinicius Jr, who is dealing with new responsibilities and fighting to keep his starting role under the Basque manager. The same goes for Trent Alexander-Arnold, whose start in the Spanish capital has also not been consistent. Alonso is rotating the English fullback with veteran Dani Carvajal, but the manager stresses the importance of competition in positions and how this makes for a better team. The return of Jude Bellingham, who is back in the squad after shoulder surgery, is a welcomed addition but Antonio Rüdiger’s long absence due to a muscle injury is an issue.

So there are a lot of changes at Madrid and that’s why I don’t have the club as high in my power rankings because I don’t know how far it can go in the Champions League, especially in Alonso’s first campaign with the club in the competition. The familiar voices of wisdom usually remind us by saying, “in Europe, never ever disregard Real Madrid,” and it’s true, this is the most successful club in Champions League history and just like Michael Myers, you can never kill them off.

But this season, right now, can I say with certainty that it will win out over the likes of Liverpool, the defending champion PSG, the German giant Bayern Munich and Clásico rival Barcelona (winner of last four encounters) and win its 16th title? Not right now I can’t.

6. Arsenal

Sorry, Manchester City, Chelsea (or Serie A) but my final pick goes to Arsenal and honestly, I would put the Gunners higher were it not for the fact that they have never won this competition and that still haunts my decision-making. But, Arsenal fans, you should also take it as a compliment that I have you here in the first place because it speaks to the tremendous job Andrea Berta and Mikel Arteta have done for the 2025/2026 campaign.

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Arsenal is the only team in this list that has never won the tournament but the faith for this club to break that unwanted statistic has never been stronger. I wrote about Arsenal this past weekend essentially stating that this is now a squad of legitimate, title-winning pedigree and the only question will be, can Arteta handle the pressure of trying to win the club’s first Premier League title in more than twenty years as well as leading his team to its first Champions League trophy? It’s very much a possible scenario and in terms of power rankings, the argument for him to do so is absolutely there. But it’s a whole other thing when we fast forward to spring and deal with a strenuous calendar and what it might bring.

Arsenal can indeed do this. It can win the Champions League because it has the tools to do so, which couldn’t be said last season, even after beating Real Madrid over the course of two legs in majestic fashion in the quarterfinal stage. Against eventual champion PSG in the semifinal, Arsenal once again fought so hard, but the reliance on certain individuals like Bukayo Saka was evident. That’s not the case this time around. Arteta has many weapons at his disposal.

But the real victory begins with Arsenal’s defensive unit as the Gunners have allowed only 18 goals in 24 UCL matches under Arteta. That’s a great stat and when you add the likes of Piero Hincapié and Cristhian Mosquera, then the defensive unit becomes even stronger. Playing the likes of Atlético de Madrid, Bayern Munich and Inter will be a challenge but the aim is for Arsenal to obtain a bye into the Round of 16 and then hopefully become tougher to beat as the knockout stage develops.

You can do it, Arsenal. Let’s get you higher in these rankings.