Champions League: Man City 2/1 favourites as Liverpool draw Madrid

• Favourites Man City to face Leipzig
• Liverpool to play Real Madrid
• Chelsea get Dortmund while Spurs draw Milan

Manchester City are the 3.02/1 favourites on the Betfair Exchange to win the Champions League after drawing RB Leipzig in the last 16 knockout round.

Bettors think this is the year that Pep Guardiola's men will conquer Europe and they are backing Erling Haaland at 2.8615/8 to be the tournament's top scorer.

Liverpool are 9.89/1 following the news that they must play the holders Real Madrid 13.525/2.

The Spanish champions beat the Reds 1-0 in last season's final. Landing Carlo Ancelotti's men at this stage is Liverpool's reward for finishing second in their group.

The winners of Liverpool's group, Napoli, drew Eintracht Frankfurt - a reminder that finishing top nearly alwayts leads to a more favourable draw in the knockout round.

Spurs and Chelsea will be quietly confident

Tottenham's 19.018/1 Italian manager Antonio Conte will relish his side's tie against AC Milan 50.049/1.

Conte has won more matches in all competitions against Milan than he has versus any other side in his managerial career.

Chelsea 17.533/2 will be pleased to have drawn Borussia Dortmund 60.059/1.

Arguably the tie of the round will see a clash between two of the most fancied teams in the tournament - PSG 11.010/1 and Bayern Munich 7.87/1.

We'll have analysis of the draw and the latest betting later today.

Champions League Round of 16 Draw

RB Leipzig v Manchester City

Club Bruges v Benfica

Liverpool v Real Madrid

AC Milan v Tottenham

Eintracht Frankfurt v Napoli

Borussia Dortmund v Chelsea

Inter Milan v Porto

PSG v Bayern Munich