Premier League champions Manchester City and German giants Bayern Munich are still the Champions League favourites after the first knockout stage draw took place earlier on Monday. Manchester City and Bayern Munich were the top two favourites before Monday’s draw and they have retained the spots after the draw which was re-done as a result of a technical problem from the first draw.

Manchester City are favourites to win the Champions League this season at the odds of 11/4 via skybet. The Citizens came close to winning the Champions League title for the first time in their history last season before they were beaten in the final by Chelsea. Pep Guardiola and his players would be hoping to go one better this season. For now, they have to overcome Portuguese opposition Sporting Lisbon to get to the quarterfinals after they were drawn together in the first knockout stage.

Bavarian giants Bayern are the second favourites at the odds of 10/3 via skybet. The German champions are the immediate past winners after they were replaced as European champions by Chelsea last season. They have a tricky tie against Austrian champions Red Bull Salzburg in the round of 16.

Merseyside giants Liverpool are the third favourites for the Champions League title this season at the moment via the odds of 5/1 from skybet. The Reds were one of three teams with a perfect record in the competition this season alongside Ajax Amsterdam and Bayern Munich. Italian champions Inter Milan await them in the last 16 following the draw earlier on Monday. Holders Chelsea won the Champions League title last season thanks to the win over fellow Premier League side Manchester City and they have 13/2 odds to retain their title via skybet. The Blues have a date with French champions Lille over two legs in the first knockout stage.

French giants Paris Saint Germain (PSG) complete the top five favourites to win the Champions League title at the odds of 10/1 via skybet. They have the most difficult last 16 tie potentially amongst the top five favourites after they were drawn with record winner Real Madrid. Spanish giants Real Madrid have won the competition 13 times, which is six more than the next team, AC Milan with seven title wins.