Champions League 2022/23: Who are the favourites for the competition?

Champions League 2022/23: The Champions League Trophy is seen prior to the UEFA Champions League Final between Manchester City and Chelsea FC at Estadio do Dragao on May 29, 2021 in Porto, Portugal.
(Image credit: Alex Caparros - UEFA/UEFA via Getty Images)

The Champions League 2022/23 is almost upon us and we can already hear that operatic anthem faintly in the distance. 

That's right, the biggest competition in club football back and the cream of Europe have seemingly grown even stronger over the summer. The usual suspects will be vying for the crown in the 30th year of the rebranded competition, though look out for surprises across the journey.

Here are the favourites to lift this season's Champions League…

The Champions League 2022/23 favourites: all odds from Bet 365

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1. Manchester City: 5/2

West Ham United v Manchester City – Premier League – London Stadium

(Image credit: Kieran Cleeves)

Manchester City were stunned by a late Real Madrid turnaround in the Champions League semi-finals last season and spent most of extra-time desperately chiselling away at a well-drilled defence without so much as a recognised striker. 

Well, Erling Haaland should change that. He's scored more goals in the competition than any other player his age and added to a lean, mean, winning machine, Pep Guardiola should have renewed hope of finally bringing Old Big Ears to Eastlands for a first time.

City are once again the favourites – though history tells us to expect them to show themselves up on the biggest stage of all…

2. PSG: 5/1

European football kits 2022/23: Every shirt released so far from Real Madrid, Barcelona, Bayern Munich, Celtic, Rangers, Juventus, PSG and others

(Image credit: Masashi Hara/Getty Images)

Last season was a weird one for Paris Saint-Germain. The futures of Kylian Mbappe and Mauricio Pochettino hung over the Parc Des Princes like a black cloud, as Lionel Messi struggled for goals. It felt like the end of something.

PSG have started this season with vigour though, as Christophe Galtier has taken charge and instilled a more sensible system to get the best from that magnificent trio at the top of the pitch. Neymar, by the way, has looked sensational early doors – and with his body ticking, he'll be desperate to fulfil his promise and lift a European trophy in the French capital.

PSG have a City-like habit of dropping the ball under the lights. Have they finally found the steel?

3. Liverpool: 6/1

Liverpool players celebrate a goal in the Community Shield win over Manchester City.

(Image credit: Getty Images)

Liverpool came within a whisker last time out. Three finals took Jurgen Klopp's men to the absolute limit of their energies – but not a single goal across over 330 minutes pointed to an issue that they've since addressed.

Haaland's in the blue corner and Darwin Nunez has moved to the Reds, having netted against Bayern, Barça, Ajax and, oh, Liverpool themselves home and away in the competition last season. Klopp will be hoping that he's found the final piece in a jigsaw to unlock sides that he didn't have last term.

By sacrificing Sadio Mané, however, has he lost an integral lynchpin?

4. Bayern Munich: 13/2

Sadio Mane of Bayern Muenchen celebrate with the fans after their sides victory the Bundesliga match between Eintracht Frankfurt and FC Bayern München at Deutsche Bank Park on August 05, 2022 in Frankfurt am Main, Germany.

(Image credit: Stefan Matzke - sampics/Corbis via Getty Images)

Robert Lewandowski out, Sadio Mané in. Oh, and Matthijs de Ligt – as if they needed to get any stronger.

Bayern Munich are set to saunter for an 11th Bundesliga title, probably without even breaking a sweat, making the quest for a seventh European crown the primary box on Julian Nagelsmann's checklist. Are they strong enough? Probably – but Bayern fans will be concerned about how Nagelsmann slipped up against Red Bull Salzburg and Villarreal last time around.

Salzburg were duly dispatched at the Allianz Arena. Villarreal got the better of the Bavarians. Bayern's young manager will be looking to prove the hot-seat isn't too big for him…

5. Real Madrid: 10/1

Real Madrid, Champions League winners 2022

(Image credit: Alamy)

If in doubt, back Madrid. They seem to always drag themselves through, whatever the odds. 

The agelessness of Luka Modric and Karim Benzema has kept Los Blancos at the top via moments of magic, with Thibaut Courtois, David Alaba and Vinicius Jr all stepping up last season with the same Real DNA that's seen the club's greatest sides ever clinch Old Big Ears. The likes of Vinicius, Rodrygo and Eduardo Camavinga maturing, while adding Aurelien Tchouameni and Antonio Rudiger should be more than enough to cushion the blow of not signing Mbappe in the summer.

But losing Casemiro is a blow – and relying on Benzema throughout the season will be risky, especially when he'll likely be leading France during the World Cup. 

6. Barcelona: 12/1

Barcelona pair Robert Lewandowski and Raphinha celebrate a goal scored in the Gamper Trophy win over Pumas at Camp Nou.

(Image credit: Getty Images)

Robert Lewandowski and Raphinha have signed, among others. Xavi has been a wheel for a few months now and Barcelona are looking well-oiled again. Fans are hopeful of landing the big prize.

The club might depend on it financially. Barça may have their own issues off the pitch but they're looking a lot more secure with their former midfielder in charge and this is maybe their best they've had since Ernesto Valverde joined. The squad is stacked with talent, too – providing they can register them all. 

Xavi isn't the most experienced, however. Neither are some of this side, too: there are so few players left from the 2015 triumph and some of this new breed have never tasted winning like the Barça sides of old. They're underdogs, for sure. 

Mark White
Content Editor

Mark White is the Digital Content Editor at FourFourTwo. During his time on the brand, Mark has written three cover features on Mikel Arteta, Martin Odegaard and the Invincibles, and has written pieces on subjects ranging from Sir Bobby Robson’s time at Barcelona to the career of Robinho. An encyclopedia of football trivia and collector of shirts, he first joined the team back in 2020 as a staff writer.