Champions League storylines: Arsenal win it all, PSG repeat, or Barca rebound?

The Champions League returns this week and some of the world's biggest clubs are attempting to dethrone reigning champions Paris Saint-Germain by lifting the European Cup in Budapest, Hungary, next May. Six Premier League teams, Spain's heavyweights of Barcelona, Real Madrid and Atletico Madrid and Bayern Munich will all back themselves to topple PSG, while Italian champions Napoli could be a dangerous outsider.

Matchday one -- spread over three days -- has thrown up some box office clashes including Bayern Munich against Chelsea, Newcastle at home to Barcelona and City against Napoli. So as club football's most glamorous and prestigious competition resumes (sorry, FIFA Club World Cup fans), who are the players and clubs to watch out for, and where are the best storylines?

The French giants won their first-ever Champions League last season in style, with Luis Enrique's team recording a record 5-0 victory in the final against Inter Milan in Munich.

The Ligue 1 champions overcame four Premier League teams -- Man City, Liverpool, Aston Villa and Arsenal -- on their way to the final, and their run to glory saw Ousmane Dembélé put himself in pole position to win the Ballon d'Or, with the winner set to be announced in Paris on Sept. 22. Désiré Doué, Vitinha, João Neves, Khvicha Kvaratskhelia, Nuno Mendes and Achraf Hakimi also had outstanding seasons for Enrique's team and their Champions League success sparked a debate about whether they could now have a period of dominance similar to those of Real Madrid and Barcelona in recent years.

- Champions League draw reaction: Best games, toughest paths, more - Connelly: Premier League "Ifs list" for title, top four contenders - Tighe: Summer transfer window winners and losers

So, could they do it? PSG are largely unchanged from last season, although Gianluigi Donnarumma's move to Man City following the signing of Lille goalkeeper Lucas Chevalier means a significant change of personnel. With a world-class coach and so many players at the top of their game, PSG are the team to beat and they have what it takes to go all the way again.

With PSG ending their wait to become European champions last season, Arsenal are now arguably the biggest club who are still without a first Champions League title.

Gunners' boss Mikel Arteta said after last season's semifinal exit against PSG that his team were the best in the competition, despite the defeat, and Arsenal have strengthened significantly during the summer. The addition of Viktor Gyökeres, Martín Zubimendi, Noni Madueke, Eberechi Eze and others means there are no more excuses now for Arsenal and Arteta in both the Premier League and Champions League.

Arteta's side start their campaign away to Athletic Club on Tuesday, which is a chance to make an instant statement that this can finally be their year. They have the quality and the depth, as well as the motivation of going so close last year; expect them to mount a serious challenge.

play

Marcotti: Højlund a 'better version' at Napoli than Man United

Gab Marcotti reacts to Rasmus Højlund's debut goal for Napoli after joining on loan from Manchester United.

Only Spain (20) and England (15) have won more European Cups / Champions Leagues than Italy's 12, but Serie A has not been able to lay claim to the European champions since Jose Mourinho's Inter Milan beat Bayern Munich in the 2010 final.

Inter and Juventus have both lost twice in the final that 2010 success and although the two clubs are once again in the Champions League this season, Italy's best chance of providing a winner is likely to come from Napoli. Antonio Conte's team won the Scudetto last season, inspired by the goals of Romelu Lukaku and Scott McTominay, and they added the experience of Kevin De Bruyne -- a Champions League winner with Manchester City in 2023 -- during the summer.

Napoli's matchday one clash with City at the Etihad will give us an early insight into their prospects of challenging to win the competition, but they have the firepower and the experience to go all the way and end Italy's lengthy wait for success.

play

Flick fumes at Spain's use of Yamal after injury setback for Barcelona

Hansi Flick speaks about Lamine Yamal's injury after returning from international duty with Spain.

If attacking threat was the key to winning the Champions League, Barcelona would be the clear favorites this time around. Hansi Flick's team has the prodigious talent of Lamine Yamal, the seasoned goalscoring experience of Robert Lewandowski and the tricky pace of Raphinha, who topped the goals (13) and assists (8) charts in last season's competition.

With Marcus Rashford, Ferran Torres and Swedish teenager Roony Bardghji also in his squad, Flick arguably has more potential goal- scorers than any other team. But as last season's 7-6 aggregate semifinal defeat against Inter showed, it is Barcelona's weakness at the back that gives opponents hope.

Only Slovan Bratislava, Salzburg and Feyenoord conceded more than the 24 goals that Barcelona let in last season -- champions PSG conceded only 15 goals. But with the pain of last season likely to focus Barcelona minds, combined with the return to Camp Nou after two seasons at Montjuic, Barca have the squad to win the Champions League for the first time since 2015.

If you want to win a Champions League, it usually helps to have a coach who has won it before or already reached a final.

The past four Champions Leagues have been won by coaches who had already lifted the ultimate prize: Carlo Ancelotti (Real Madrid, 2022, 2024), Pep Guardiola (Man City, 2023) and Luis Enrique (PSG, 2025). And when Thomas Tuchel (Chelsea, 2021) and Jurgen Klopp (Liverpool, 2019) lifted their first European Cup, both had already suffered defeats in previous finals.

Hansi Flick, with Bayern in 2020, is the only first-time winner with no previous experience of a final since Zinedine Zidane guiding Real to the first of three successive titles in 2016. Enrique and Guardiola will both expect to go deep in this season's competition with PSG and City respectively, but could a new coach break the mold and go all the way without previous final experience this year?

Xabi Alonso at Real and Liverpool's Arne Slot could both tick that box, while Bayern Munich will expect Vincent Kompany to take the Bundesliga champions all the way. Antonio Conte (Napoli), Mikel Arteta (Arsenal) and Enzo Maresca (Chelsea) will all harbor hopes of success too, meaning the old guard may have to make way for a new name this season.

play

Nicol doesn't care if Mohamed Salah is just a goal scorer

Steve Nicol defends Mohamed Salah from criticisms of his overall play after scoring a last-minute penalty to Liverpool's win over Burnley.

The Premier League is over-represented in this season's competition due to the success of its clubs taking its maximum allocation of four slots to six due to Tottenham winning the Europa League and England topping UEFA's co-efficient table. Liverpool, Arsenal, Man City, Chelsea and Newcastle make up England's six-pack, but despite the strength of the Premier League, it hasn't provided a Champions League finalist for the past two seasons.

With such a heavyweight contingent this time around, it seems inevitable that at least one English club will make it to the final, and we could even see an all-English final for the first time since Chelsea beat City in Porto in 2021.

Six-time Champions League winners Liverpool are England's strongest contender and their pedigree in the competition makes them a formidable prospect, but Arsenal are strong and Chelsea have developed a knack of winning major trophies. City seem to be in a period of transition, but they still have Pep Guardiola and the goals of Erling Haaland, and Spurs now know what it takes win silverware after last season's Europa League success.

With Newcastle also in the mix, it projects to a Premier League-heavy competition when we reach the knockout stages in 2026.

It's been a while since a team from outside Europe's major leagues won the Champions League -- Jose Mourinho's Porto in 2004 were the last to do so -- and it is tough to envisage that changing this season. The best hope of a shock is one of the less-fancied teams from England, Germany, Spain, Italy or France going far in the competition and maybe even reaching the final.

Monaco could be worth a watch with both Paul Pogba and Ansu Fati attempting to reignite their careers with the Ligue 1 side, while Eintracht Frankfurt have shown an incredible ability to find new players to replace departed stars. Can they do it again after the exits of Omar Marmoush and Hugo Ekitike this year?

Villarreal have twice reached the semifinals, losing to Arsenal in 2006 and Liverpool in 2022, while Athletic Club went close in last season's Europa League before being knocked out by Manchester United. Club Brugge were a surprise package in last season's competition, while Olympiacos ended Greece's wait for a European trophy by winning the Conference League in 2024.

If any of the above can reach the final, it would be a major surprise.

The Champions League is rarely about the minnows. It is the competition that is dominated by -- and won by -- the world's biggest and richest clubs. But every season throws up a shock and a team that has reached the League Stage the hard way by ploughing through the qualifying rounds.

Moldova's Sheriff Tiraspol pulled off a massive shock by beating Real Madrid 2-1 in the Santiago Bernabeu in Sept 2021, while Rubin Kazan (Barcelona 2009), Young Boys (Man United, 2021) and Maccabi Haifa (Juventus, 2022) have also delivered major upsets in the early stages of the Champions League. Pafos FC (Cyprus), Qarabag FK (Azerbaijan), Bodo / Glimt (Norway) and Kairat Almaty (Kazakhstan) have all made it to the League Stage and their ambition will be to claim at least one victory despite being rank outsiders.

Keep an eye on Bayern Munich's trip to Pafos this week and Kairat's home game against Real Madrid on matchday two as potential upsets.