Welcome to Year 4 of the Champions League rankings, where I ... rank all the teams in the Champions League.

This year is notable for one specific reason: Manchester City are not No. 1. In fact, they're not even close to being No. 1. City have been the favorites to win the European Cup in six of the past seven seasons, and they were second favorites the only time they weren't No. 1.

Without City leading the way, it's way more open at the top than it has been in a long time. Five clubs can make reasonable cases that they should be the favorites to win it all -- and then there are also a bunch of others that could win it all, too.

- Ogden: UCL storylines to watch this season

- O'Hanlon: Worst 2025 summer transfers, from Cunha to Isak

- UCL draw reaction: Must-see games, easiest/toug

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