From here on out, the bracket is balanced and full of intrigue, but which power is most likely to win the trophy in Paris?
For once, the UEFA Champions League draw appeared to deliver a balanced quarterfinals with the potential for fireworks.
After all, the two best remaining teams from the group stage who went undefeated (Liverpool and Bayern Munich) were given the easiest draw for the next round. In a mouthwatering semifinal that is sure to entertain, they could both be caught looking ahead at the other.
Meanwhile, last year's finalists, Manchester City and Chelsea, face more difficult matchups with the giants of Madrid, who may both fancy their chances of progressing beyond their English opponents after overcoming difficult round-of-16 matchups.
So, how do the other eight clubs fare? We've ranked the quarterfinal field to see which teams have the best chance of winning the trophy on May 28 in Paris:
1. Liverpool
While determining which team has the clear advantage from the Champions League quarterfinals onward is difficult, one section of the bracket has a more direct path than the other. After drawing Benfica and Villarreal, respectively, Liverpool and Bayern Munich appear destined for a titanic semifinal clash. It's not that the two underdogs can't pull off something spectacular; it's just that they drew the wrong teams to do so against.
Liverpool has won 16 of its last 17 games in all competitions (the only loss came in the round of 16 second leg vs. Inter Milan), has kept 10 clean sheets in its last 13 games, and is vying for the Premier League title with Manchester City. The trip to City on Sunday is sandwiched between the two quarterfinal legs, but a strong showing in Portugal on Tuesday would go a long way toward relieving some of the pressure. And, given Liverpool's recent form and depth, that should be expected.
2. Bayern München
The only reason Bayern is not first is that Villarreal appears to be a slightly tougher draw than Benfica, with whom Bayern shared its group. Bayern is coming off back-to-back four-goal performances in the Bundesliga and has its sights set on a 10th straight league title, thanks to a nine-point lead at the top of the table with eight games remaining.
Villarreal has put the continent on notice after a stunning 3–0 win over Juventus in the round of 16, and Bayern will not be taking its opponent lightly. It would be easy to get caught up in thinking about a potential semifinal matchup with Jürgen Klopp's Liverpool, but this Bayern team is far too experienced and balanced, particularly in his high-octane attack. The German giants crushed RB Salzburg in the round of 16 second leg, 7–1, as part of a 22-goal run in the last seven games, led by a hat trick from Robert Lewandowski.
3. Manchester City
The next section of the bracket is where things start to get interesting. On paper, Manchester City appears to be the most complete team in the competition, but Pep Guardiola has a habit of crumbling that paper in big games. When asked if he overthinks big games, Guardiola responded with a witty retort: "We play with 12 tomorrow." And if there's one coach and team to avoid overthinking, it's Diego Simeone's Atlético Madrid.
4. Chelsea
Chelsea is still the reigning European champion and should be feared as such, but the road to lifting Ol' Big Ears on May 28 appears to be the most difficult. The first match is a quarterfinal against Real Madrid, who defeated PSG in the final half-hour of the tie. If Chelsea defeats Real for the second year in a row, the winner of Man City–Atlético, both of which Chelsea defeated last season, will face Chelsea in the semifinal. And, as we all know, Liverpool and Bayern Munich are favorites to make it to the final.
5. Real Madrid
Real Madrid, and particularly Karim Benzema, made the most noise in the round of 16 when it rallied from a 2–0 aggregate deficit to defeat PSG in the final 30 minutes. Benzema's 17-minute hat trick demonstrated that no lead is safe from Real Madrid's experience and tenacity, as well as that no team wants to face Real Madrid when it is facing elimination from the Champions League.
Real Madrid, on the other hand, has never beaten Chelsea in European competition, including last season's two semifinal games. While Real appears to have a strong lead at the top of La Liga, its recent 4–0 defeat to Barcelona raises many questions about the club's defensive setup.And in a game that should be close (and entertaining), a lockdown defense is usually what makes the difference.
6. Atlético Madrid
The good news for Simeone is that he is at ease, if not overjoyed, with the fact that his bigger/stronger/faster opponent has everything to lose. Atlético always appears to be playing with house money, and that appears to be fine with him. And, having led Atlético to their second La Liga title, Simeone will almost certainly go all-in on taking on the European giants in search of the club's first Champions League title.
However, winning the Champions League may be one of the greatest achievements in Champions League history. Following a nail-biting last-16 tie with Manchester United, Atlético must now travel to the more formidable Manchester side in Guardiola's City, where it will almost certainly face Chelsea/Real Madrid in the semifinals, followed by Liverpool or Bayern Munich. Is it, however, out of the question? Never, not with El Cholo in command.
7. Villarreal
The Yellow Submarine have had a lot to be proud of in the last year, beginning with their stunning penalty-shootout victory in the Europa League final last season. Villarreal would not have been in the Champions League this season if it had not defeated Manchester United, let alone in the quarterfinals after defeating Juventus. Its visit to Turin last month was more than just an upset; it was a stunning display of power.
8. Benfica
Unfortunately for Benfica, the Portuguese club was the one that everyone hoped would be drawn in the quarterfinals. Benfica defeated Ajax in an exciting round-of-16 match and advanced from a group that included Bayern Munich (despite being destroyed on two occasions by the German giants). And, while it would have preferred Villarreal or even Atlético, Benfica will have to face one of the world's most in-form teams.
In terms of history, Liverpool is a relatively familiar opponent for Benfica, having met eight times in European competition. Liverpool has lost each of its last three games against Benfica, despite the fact that the most recent occurrence was 12 years ago. Benfica must hope that Liverpool is focused on Sunday's Premier League match against Manchester City if it is to shock the 2019 champions in the first leg. Even so, Liverpool has a second leg at Anfield to look forward to as a backup plan.