Holders Real Madrid face a challenging path to retain their title after being drawn against city rivals Atletico Madrid in the 24/25 UEFA Champions League last 16.
Friday’s draw in Nyon, Switzerland, has set Real up for a tough path to the final, with Liverpool, PSG, and Arsenal all on their side of the bracket.
Having already dispatched one of the competition favourites Manchester City 6-3 in the play-offs, the defending champions must now overcome bitter rivals Atletico—whom they famously defeated in the 2014 and 2016 finals—as they chase a record-extending 16th UCL crown.
The winner of that tie will face either Arsenal or PSV in the quarterfinals, with the Dutch side having eliminated Juventus in the play-off round.
A potential semifinal showdown with either Liverpool or PSG awaits, as both teams have been drawn against each other in another blockbuster last-16 clash, while Club Brugge will take on Aston Villa in the other last-16 matchup on that side of the draw.
Meanwhile, on the opposite side, Bayern Munich will contest an all-German affair against Bayer Leverkusen, while Inter Milan will look to restore some Italian pride as they take on Feyenoord, the team that knocked out their city rivals AC Milan in the play-offs.
Benfica and Barcelona, who produced one of the most thrilling league-phase encounters—an epic 5-4 victory for the Spanish side in Portugal on matchday 7—meet again, this time in the last 16.
And with Borussia Dortmund paired against Lille, at least one lesser-fancied side is guaranteed a place in the quarterfinals.
Below, we break down the last 16 fixtures, explore potential knockout-stage matchups, analyse the latest winner odds, and assess the favourites to lift the 24/25 Champions League trophy now that the knockout-stage picture is set.
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24/25 Champions League Last 16 Draw
- PSG vs Liverpool
- Club Brugge vs Aston Villa
- Real Madrid vs Atletico Madrid
- PSV vs Arsenal
- Feyenoord vs Inter Milan
- Bayern Munich vs Bayer Leverkusen
- Dortmund vs Lille
- Benfica vs Barcelona
24/25 Champions League Last 16 Fixtures in Full
04/03
- 18:45 Club Brugge – Aston Villa
- 21:00 Real Madrid – Atletico Madrid
- 21:00 Borussia Dortmund – Lille
- 21:00 PSV – Arsenal
05/03
- 18:45 Feyenoord – Inter Milan
- 21:00 Benfica – FC Barcelona
- 21:00 PSG – Liverpool
- 21:00 Bayern Munich – Bayer Leverkusen
11/03
- 18:45 FC Barcelona – Benfica
- 21:00 Bayer Leverkusen – Bayern Munich
- 21:00 Inter Milan – Feyenoord
- 21:00 Liverpool – PSG
12/03
- 18:45 Lille – Borussia Dortmund
- 21:00 Aston Villa – Club Brugge
- 21:00 Arsenal – PSV
- 21:00 Atletico Madrid – Real Madrid
Potential Champions League Quarterfinals and Semifinals Matchups
- PSV/Arsenal/Real Madrid/Atletico Madrid vs PSG/Liverpool/Brugge/Aston Villa
- Bayern Munich/Bayer Leverkusen/Inter/Feyenoord vs Benfica/Barcelona vs Borussia Dortmund/Lille
24/25 Champions League Winner Odds After Last 16 Draw
Odds courtesy of Bet9ja, correct at time of publishing and subject to change.
- Real Madrid @ 4.35
- Barcelona @ 5.25
- Liverpool @ 6.25
- Arsenal @ 6.50
- Bayern Munich @ 8.00
- Inter Milan @ 12.00
- PSG @ 13.00
- Atletico Madrid @ 21.00
- Bayer Leverkusen @ 31.00
- Aston Villa @ 34.00
- Borussia Dortmund @ 51.00
- Benfica @ 67.00
- Lille @ 81.00
- PSV @ 126.00
- Club Brugge @ 126.00
- Feyenoord @ 151.00
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24/25 Champions League Favourites to Win the Trophy
The last 16 draws, which mapped out the route to the final for all remaining teams, have prompted the best betting sites to adjust their odds for the 2024/25 UEFA Champions League winner, with holders Real Madrid now favourites despite facing an extremely tough path to the final.
Real Madrid @ 4.35
Real started the campaign slowly, suffering defeats to Lille, Liverpool, and AC Milan in the league phase, which resulted in a disappointing 11th-place finish.
But, as we’ve come to expect from the competition’s most dominant side, they always seem to hit their stride when it matters most, and their emphatic 6-3 aggregate win over Manchester City in the play-offs is proof that they’re finding top form at just the right time.
While some may argue that beating an out-of-sorts City isn’t enough evidence that the Spanish giants can go all the way again—especially with Atletico up next in the last 16 and Arsenal, PSG, and Liverpool on their side of the draw—a team packed with the talents of the red-hot Kylian Mbappé, Vinicius Júnior, Rodrygo, Jude Bellingham, and all their other stars, led by the Champions League’s greatest-ever manager, Carlo Ancelotti, will always be rightfully considered favourites.
Real Madrid to win 24/25 Champions League @ 4.35Barcelona @ 5.25
Bookmakers consider Spain the most likely destination for this season’s Champions League title, with Barcelona the second-favourites according to the betting odds.
Hansi Flick’s side certainly have the firepower to go all the way, having scored 28 goals in this season’s competition—the most by any Champions League team so far.
A very winnable last-16 tie against Benfica and they’ll fancy their chances against the other teams on their side of the draw are all factors in their favour.
Plus in Flick, they have an experienced manager who knows his way around the Champions League having led Bayern to the title in 2020. all work in their favour.
Barcelona to win 24/25 Champions League @ 5.25Liverpool @ 6.25
Once the outright favourites for the Champions League, Liverpool—who topped the league phase table—have now slipped to third in the betting, with bookmakers perhaps considering that if it comes down to it, Arne Slo might prioritise the Premier League, where they’re overwhelming favourites for the title, over the latter stages of the UCL.
The Reds enjoyed a near-perfect league phase, winning their first seven matches before a meaningless defeat to PSV on the final matchday. They face a tough last-16 clash against PSG, which could go either way, but they’ve already shown enough in this Champions League, including by beating Real Madrid 2-0 on Matchday 5, that they’re more than a match for any team in the competition.
Liverpool to win 24/25 Champions League @ 6.25Arsenal @ 6.50
Arsenal’s long wait for a Champions League trophy looks set to continue, even though they’re ranked fourth-favourites to win this season’s competition.
The Gunners picked up six wins and conceded just three goals in a strong league phase campaign. They should also make the quarterfinals, with PSV a tricky but ultimately winnable tie.
Beyond that, however, Mikel Arteta’s side could struggle. The sheer number of injuries to key attacking players makes it difficult to see how they get past the heavyweights on their side of the draw.
Arsenal to win 24/25 Champions League @ 6.50Bayern Munich @ 8.00
Bayern needed a late goal to scrape past Celtic in the second leg of their play-off tie, winning 3-2 on aggregate. That continued a string of laboured performances in this season’s Champions League, including three consecutive away defeats in the league phase.
While they’re a traditional European heavyweight, their displays in this season’s Champions League have hardly inspired confidence that they have what it takes to go all the way.
And judging by their last Bundesliga meeting with Bayer Leverkusen, who they face in the Champions League last 16, Vincent Kompany’s side have a lot of improving to do if they want to stay in the competition.
Bayern Munich to win 24/25 Champions League @ 8.00Inter Milan @ 12.00
Inter Milan are priced at 12.00 odds to win the 24/25 Champions League, and the Italian champions must be considered a very realistic prospect of lifting the trophy.
The 2023 finalists finished the league phase with the best defensive record, keeping seven clean sheets and conceding just once, despite facing Arsenal, Manchester City, and RB Leipzig.
If the adage that defences win championships holds true, then Simone Inzaghi’s side have every reason to believe they’re in with a serious shout.
Their last-16 opponents, Feyenoord, shouldn’t be underestimated, given they’ve already eliminated an Italian side in the play-offs. Even so, it would be a major surprise if Inter don’t make the quarterfinals.
From that stage onwards, Milan will fully back themselves in a two-legged tie against any of the teams on their side of the draw.
Inter Milan to win 24/25 Champions League @ 12.00When are the 2024/25 Champions League Knockout Rounds?
- Round of 16: March 4/5 and March 11/12, 2025
- Quarter-finals: April 8/9 and April 15/16, 2025
- Semi-finals: April 29/30 and May 6/7, 2025
- Final: May 31, 2025
When and where is the 2025 Champions League final?
The 2024/25 UEFA Champions League final will be held in Munich at the Allianz Arena on May 31, 2025.
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