The Champions League is back for the 2026/27 season, as Liverpool is among those believing it can win the competition when it comes to a close in May
Andoni Iraola poses during the official UEFA Champions League 2026/27 portrait session
Andoni Iraola's side remains among the favorites to win the Champions League(Image: (Photo by Karl Bridgeman - UEFA/UEFA via Getty Images))
Liverpool's Champions League campaign finally gets underway this week, as the Reds take to the league phase with every hope of winning the competition.
While some impressive sides will stand in the way, Andoni Iraola will take encouragement from some early positive signs in the Premier League, hoping to translate them onto the European stage. The league table format is now in its third year, with the Champions League playing host to eight matches for each team, collating the overall points and goal difference into one large table, and deciding which teams progress based on it.
So far, Liverpool has finished in the top eight both times, securing passage straight to the round of 16, avoiding a potential playoff game or total elimination from the contest.
However, on both occasions, the Reds have ran into a brick wall titled PSG. The back-to-back European champions dismissed Arne Slot's team in successive campaigns, as Iraola looks to avoid a similar fate.
To get there, Liverpool will first need to qualify, and that all begins on Wednesday with a clash at Anfield against familiar foes Atletico Madrid.
Inter Milan, Porto, Club Brugge, Fenerbahce, RC Lens, LASK, and Villarreal also wait for the Merseyside outfit in a whole host of important clashes, before attention can turn to the knockout part of the competition.
The UEFA Champions League trophy ahead of the draw(Image: Francesco Scaccianoce - UEFA/UEFA via Getty Images)
With that all setup, Liverpool has been given a decent chance of winning the Champions League by OPTA, who makes the team sixth-favorite this season.
The simulations gave the Reds a 6.11 per cent chance of lifting the famous trophy next May, putting the team above the likes of Real Madrid, Manchester United, and Inter Milan.
There are teams with stronger chances, however, as Arsenal is the favorite (20.88%) alongside Bayern Munich (19.37%). Beyond those two, Manchester City (12.28%) is present, before a group that includes Barcelona (8.16%) and PSG (7.09%).
It suggests Liverpool has a decent chance of going far, especially with star players such as Alexander Isak and Bradley Barcola, but it remains to be seen how it all plays out on the pitch.
Kickstarting the campaign against Atletico Madrid is a difficult opening match, but it will set the foundations for what could be an important campaign in Europe for Iraola.
If Liverpool can get the win, it could begin another historic season, but it will all be determined by the final draw and how the team performs on the pitch.