Harry Kane warming up for Bayern Munich
Harry Kane is the bookmakers' favourite to win the Ballon d'Or(Image: Getty Images)
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For the 1992-93 season, the European Cup was a competition still reserved for domestic champions only but was rebranded as the UEFA Champions League. In the same season, of course, the First Division here was rebranded as the Premier League.
The Premier League’s representatives in the 1992-93 UEFA Champions League were Leeds United. Howard Wilkinson's side were knocked out by Rangers in the second round, with Ally McCoist scoring in 2-1 wins for the Scottish champions in each leg.
English clubs have won seven of the 34 editions of the Champions League that have taken place since the Premier League began.
In that time, Spanish clubs have won it 13 times, Italian clubs five times, German clubs four times, French clubs three times, Dutch clubs once, and Portuguese clubs once. In commercial and financial terms, the Premier League soon became the giant of European club football but it is not the dominant force in Champions League football.
Certainly not in terms of winning it. And that will continue to be the case. Essentially, it is the strength in depth of the elite English clubs versus the four powerhouses from Spain, France and Germany.
Barcelona have not recruited extensively but have signed Rodri - as well as Anthony Gordon of course - so that immediately makes them much stronger. Real Madrid have a manager who knows what it takes to win the Champions League and have made shrewd investments on the playing side.
Kylian Mbappe of Real Madrid in action
Kylian Mbappe will spearhead Real Madrid's Champions League challenge(Image: Joaquin Corchero/Europa Press via Getty Images)
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Paris Saint-Germain, who defended their title last season, and Bayern Munich will certainly be no weaker this season. Last season, there was a lot of talk in this country about whether the strength of the English club game was good for the competitiveness of European football.
That was after all six Premier League teams made it through to the round of 16. The chat was vaguely arrogant. And sure enough, only two made it through to the quarterfinals and only one to the semifinals. Arsenal reached the final where they were beaten on penalties by PSG.
Barcelona's Brazilian forward #11 Raphinha (R) celebrates scoring his team's fourth goal with Barcelona's Spanish forward #10 Lamine Yamal during the Spanish league football match between FC Barcelona and Rayo Vallecano de Madrid at Camp Nou Stadium in Barcelona on August 31, 2026. (Photo by Lluis GENE/AFP via Getty Images)
Barcelona and Lamine Yamal have begun the Spanish season in flying form(Image: Lluis GENE/AFP via Getty Images)
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One reasonably compelling argument why English clubs are perhaps not punching their financial weight at the very, very top of the European game is that the Premier League demands more out of its top clubs than La Liga, the Bundesliga or Ligue Un does. There may be something in that, although PSG, Barcelona and Real Madrid all lost more domestic league matches than Arsenal last season.
If you look at the squad strength of the five English teams starting their Champions League campaign this week, it will be a minor shock if all of them do not make it through this first, drawn-out phase. But while the Premier League has a very expensive plethora of high-quality players, the shiniest stardust is elsewhere.
Declan Rice of Arsenal during the Premier League 2026/27 match between Arsenal FC and Coventry City at Emirates Stadium on August 21, 2026 in London, England.
Declan Rice is one of the few Premier League players with a hope of getting a Ballon d'Or vote
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Look at the bookmakers’ odds for the 2026 Ballon D’Or, which will be awarded next month. The top ten in the betting - headed by Harry Kane, Lamine Yamal and Kylian Mbappe - operate outside the Premier League. It will NOT be a Premier League player. Declan Rice is the shortest-priced contender from the Premier League. And he is 100-1.
When it matters most, the marquee players tend to make the difference. And that is why the odds are still against a Premier League winner of the Champions League, no matter the riches lavished in this latest window.
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