Manchester United and Liverpool are also contenders for the UCL 2026-27 championship following the latest league phase draw.
On 28 August 2026, Sky Bet, a well-known legal bookmaker in England, revealed the latest odds for the favorites to win the UEFA Champions League 2026-27 after last night's league phase draw.
It turns out that the "defending champions," Paris Saint-Germain, the Ligue 1 powerhouse from France, remain the top favorite to retain the UCL 2026-27 title. If Luis Enrique's squad succeeds, they will become the fourth club in history to win three consecutive titles, following Real Madrid, Ajax, and Bayern Munich.
Meanwhile, the second favorites include three teams with identical odds: the "runners-up," Arsenal from England's Premier League, Barcelona, five-time champions from Spain's La Liga, and Bayern Munich, six-time champions from Germany's Bundesliga.
Real Madrid, Europe's most successful club with 15 titles, is ranked only third favorite. Meanwhile, three other Premier League teams—Manchester City, Liverpool, and Manchester United—are ranked as fourth, fifth, and sixth favorites respectively.
Favorite 1: PSG - Odds 5/1 (bet 1 to win 5, excluding stake)
Favorite 2: Arsenal, Barcelona, Bayern Munich - Odds 6/1
Favorite 3: Real Madrid - Odds 13/2
Favorite 4: Manchester City - Odds 9/1
Favorite 5: Liverpool - Odds 11/1
Favorite 6: Manchester United - Odds 16/1
* The UEFA Champions League 2026-27 league phase first matches will take place between 8-10 September.