The favorable last-16 draw sees Manchester City installed as favorites ahead of Bayern Munich and Liverpool, while Paris Saint-Germain’s odds lengthen

The Champions League will return in February with Europe’s elite resuming battle to be crowned continental champions.

Defending champions Chelsea have a winnable looking tie in the last 16 against French side Lille but know that only Real Madrid has successfully defended the title in the modern era.

From the likes of Paris Saint-Germain to Bayern Munich and Real Madrid.

Manchester City is 11/4 with bet365 to lift their first Champions League title this season.

Bayern Munich‘s odds to win the Champions League are at 7/2 and the Bavarians were in ruthless form in the group stage, winning all six of their matches, scoring 22 goals in the process.

Next in the betting come Liverpool and Chelsea, who are priced at 5/1 and 7/1 respectively to be crowned winners.

Paris Saint-Germain is 8/1 to finally lift the trophy this year, but they face a tough clash in the first knockout round at the hands of 13-time champions Real Madrid. Having signed Lionel Messi, expectations are high in the French capital that a first Champions League title can be secured this season, although the team managed just three wins from six matches in the group stage.

Real Madrid’s odds of winning the Champions League under manager Carlo Ancelotti are at 18/1, and the most successful team in the history of the competition have a special aura about them when it comes to Europe’s premier club competition.

Manchester United is also 18/1 to win the Champions League and, having topped their group, will face Atletico Madrid after that tie was confirmed following a chaotic draw process.