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Liverpool ended the league phase of the Champions League top of the table and is the favourite in the odds to lift the trophy.
Following the culmination of the Champions League group phase, Liverpool and Barcelona have established themselves as favourites to be crowned European champions. Of course, knockout soccer is not that simple.
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Liverpool fell to PSV on the final day of the Champions League league phase with a number of key starters absent from the matchday squad.
Liverpool became the first team to guarantee a place in the last 16 of the new Champions League format by beating Lille 2-1 on Tuesday, while Barcelona fought back from two goals down to stun Benfica 5-4 in a thriller.
As the league phase comes to a close, there's still plenty of shuffling that will happen in Champions League play. Only Barcelona and Liverpool have clinched their places in the top eight putting them automatically through to the last 16 but plenty of teams will be looking to join them.
Liverpool's 100% record in the Champions League ended as they lost 3-2 at PSV Eindhoven on Wednesday but Arne Slot's side still finished top of the group stage.
Ahead of the draw, Arsenal's potential quarterfinal opponents come from a list of six including defending champions Real Madrid, EPL holders Manchester City plus Bayern Munich, Bayer Leverkusen, Atletico Madrid or Celtic.
Jordan Henderson is close to moving to Monaco - which would be his third club in 12 months - with the French club potentially facing Liverpool in the Champions League knockouts
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