Who are the favourites to win the 2026-27 Champions League?

PSG defeated Arsenal on penalties in last season's final and will be striving to become only the fourth team to win three straight titles, following in Real Madrid, Ajax and Bayern Munich's footsteps.

The Parisians may be fancied again, but there is stiff competition hoping to upset the best team in Europe and lift the trophy in the Estadio Metropolitano, Madrid, in June.

But who are the favourites for the competition? Here, DAZN News analyses the contenders.

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PSG

It would be wrong to start with any team other than PSG, who have built one of the strongest sides in European history.

The Parisians have talent all over the park, but it is their attack that has proved unstoppable over the last couple of years, with Ousmane Dembele, Desire Doue and Kvicha Kvaratskhelia forming a terrifying trio.

Enrique's men were unconvincing in the league phase last year, relying on a play-off to progress, but they have a habit of turning it on in the business end of the competition.

The French outfit have added Ferran Torres and Maghnes Akliouche to their stellar forward line but may regret allowing Bradley Barcola and Ibrahim Mbaye to leave.

Remarkably, PSG are without a win in their opening three Ligue 1 games, taking just two points, suggesting this might be the season they could be toppled.

Arsenal

The Gunners came agonisingly close to lifting their first Champions League title earlier this year but were halted by a familiar foe in PSG.

The English side have been knocked out by the Parisians in both of the last two campaigns, in the semi-final and the final, and will be hell-bent on going one better this term.

Having lifted the Premier League title last season, the North Londoners now have that winning mentality and have looked the strongest side in the Premier League so far.

Bruno Guimaraes and Christos Tzolis have strengthened Mikel Arteta's side, while Martin Odegaard and Kai Havertz have found another level of form.

Arsenal certainly have the quality and strength in depth to go far again and threaten to be PSG's closest challengers.

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Barcelona

It has been over a decade since Barcelona last lifted the Champions League trophy, when Lionel Messi and co defeated Juventus in the 14/15 final.

Hansi Flick's side have been dominant in Spain, lifting back-to-back La Liga titles, and now they will be targeting progress in Europe.

Barca strengthened substantially this summer, signing Rodri, Anthony Gordon and Gabriel Jesus, with the Spaniard's arrival the one that could elevate them to European glory.

The club do not have the same pressure as rivals Real Madrid in the Champions League, and that could be a defining factor for the five-time champions.

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Bayern Munich

Many fancied Bayern Munich to triumph last term with their irresistible frontline containing Michael Olise, Luis Diaz and Harry Kane but were powerless to stop PSG in a semi-final epic.

Vincent Kompany's side are a shoo-in for the Bundesliga title, so making progress in Europe will be a top priority for the Belgian.

It was a quietish summer window for the German club, with Ismael Saibari and Nathaniel Brown the headline arrivals, but this is a side with significant attacking threat.

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Real Madrid

Jose Mourinho has been drafted in as Real Madrid boss for one reason: to win the Champions League.

The 15-time champions are always fancied due to their long and prosperous relationship with the competition but have failed to progress past the quarter-finals in the last two seasons.

There were several high-profile arrivals at the Santiago Bernabéu this summer, with Yan Doimande, Marc Cucurella, Denzel Dumfries, Bernardo Silva and Ibrahima Konaté strengthening Mourinho's squad.

Real certainly have the star power to progress deep into the Champions League, particularly if Kylian Mbappe continues his form, but can they handle the pressure that comes with their glut of titles?

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The best of the rest

Manchester City have a squad dripping in talent, and while there are question marks over Enzo Maresca's credentials, they have started the season strongly and can go toe-to-toe with any side in Europe.

Liverpool have often defied the odds in the Champions League, and although they are not fancied to lift the trophy, they have the players and the home atmosphere to go far.

Inter Milan have reached the final in two of the last four seasons and are reigning Italian champions, while Atletico Madrid have the nous to claim big scalps.

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