The Champions League proper is set to begin in October and online betting sites have already released the outright odds for this season’s tournament.

Bayern Munich lifted the trophy in Lisbon after beating Paris Saint-Germain 1-0 in the final, and it is the Germans who start as co-favourites for the 2020-21 tournament.

Hansi Flick’s team are priced at 9/2 with most bookmakers to go back-to-back, and with Leroy Sane’s arrival strengthening their attacking options, they are likely to be just as difficult to beat in this campaign as they were during the last.

Manchester City, Sane’s former club, are also 9/2 even though they have never won the Champions League. Lyon knocked them out in a shock 3-1 result at the quarter-final stage, meaning that Pep Guardiola’s wait to win the European Cup at City goes on.

One English club that have had plenty of experience in lifting ‘Old Big Ears’ is Liverpool, who are 5/1 in places but 7/1 best price. The addition of Thiago Alcantara will be a huge boost, and confidence within the squad will be at an all-time high after they followed up their 2019 Champions League success with a maiden Premier League triumph this year.

Like Man City, Paris Saint-Germain are searching for their first Champions League and the Ligue 1 outfit are 9/1 with Paddy Power to finally go all the way. Having reached the final for the first time in 2020, many may be tempted by that price for them to go one better.

You can never keep Real Madrid away from Champions League finals for too long, so it is no surprise to see them at 9/1 with some betting sites, while they can be snapped up at a more generous 12/1 elsewhere. That price may change depending on what happens between now and the end of the transfer window. There have been plenty of departures from the Bernabeu, many of which will surely be replaced.

Barcelona, meanwhile, have already spent big on midfielder Miralem Pjanic from Juventus and the exciting Portuguese winger Trincao from Brago. But their biggest coup is being able to keep hold of Lionel Messi, who at one stage looked likely to be heading to Manchester City. The Catalan giants, five-time winners of the European Cup, are 16/1.

There are some 17/1 quotes available on Serie A champions Juventus, while Chelsea, who have bolstered their squad massively, are 22/1. Manchester United are also 22/1, but that may have something to do with their pedigree in the Champions League rather than their current squad.

It may be surprising to see Atletico Madrid, Inter Milan, and Borussia Dortmund as big as 33/1 with some bookies, and an even bigger long shot is Atalanta at 45/1. The Italian side were highly impressive with their attacking football last season as they reached the quarter-finals of the Champions League and finished third in Serie A.

Sevilla have an incredible record in European competitions, having won the Europa League six times this century, but the Champions League may be a step too far from them and 70/1 is probably fair.