Champions League power ranking: 10 dark horses to watch

The Champions League is back as fans brace themselves for the second iteration of the revamped format and it could spring a surprise or two.
As last year proved, the league phase can be more exciting than the traditional group stage matches and with eventual winners PSG finishing 15th, it shows that good form at the start does not always translate to trophies.
And even if the money difference between the big team and the rest is getting bigger and bigger, there is still the odd occasion of an upset so we’ve taken a look at 10 teams we would not be surprised to see make it through to the knockout rounds.
When it comes to the Netherlands, PSV look to be the country’s best hope in Europe having narrowly beaten Ajax to the title last season.
Their biggest strengths come in the midfield with Jerdy Schouten and Joey Veerman, while there is a familiar face in the form of veteran Ivan Perisic, who continues to defy time at 36.
He has begun his latest campaign by creating three goals and scoring one as PSV won three of their opening four league games.
In Europe, PSV won the European Cup in 1978 but were thumped 9-3 on aggregate in the round of 16 by Arsenal last season.
It is not often a Turkish team can boast one of the best strikers in world football, but Victor Osimhen fell in love with the club after a loan spell and Galatasaray paid €75 million to make it a permanent move.
The Nigerian is a key component of any success the Turkish side may hope to have, but the club does not have a huge pedigree in the competition.
Their best result was the semi-finals, but that was back in the European Cup era of 1989. Still, Liverpool and Manchester City will not relishing facing them in the league phase.
Russel Martin’s Rangers are perhaps the best advocates of Brugge’s credentials, given they were smashed 9-1 over the two legs of their playoff fixture.
The Belgian side had five different scorers in their 6-0 win against Rangers and had five players score at least nine goals last year.
They spent comparatively little in the summer, instead focusing on youth with four players aged 21 or under.
Domestically, the club have finished fourth in three of the last four seasons and in Europe, they reached the last eight in 2025 before being knocked out by Aston Villa.
Eight years on from the sensational team fronted by a teenage Kylian Mbappe that knocked out Manchester City, Monaco are flirting with greatness once more.
Domestically, they have always been hovering around the top four without ever posing too much threat to the title.
But they may bloody an artistocratic nose or two in the Champions League, with several talented players in their squad.
Their star players are Danish forward Mika Biereth, Swiss midfielder Denis Zakaria and Frenchman Lamine Camara, with Adi Hutter in charge since 2023.
When Newcastle thumped PSG 4-1 on an October night at St James’ in 2023, you could forgive Toon fans for thinking it was the start of something special.
But it was their only win in six Champions League matches that year, causing them to finish bottom of their group.
The struggle they found was balancing midweek European matches with a Premier League campaign and Eddie Howe will have to prove he has learned how to navigate that.
As Newcastle fans like to point out, they had a particularly tricky group last time round and the revamp of the competition may work in their favour.
Losing Alexander Isak cannot be understated but in Bruno Guimaraes, Sandro Tonali and Nick Woltemade, the club have the players to cause an upset.
Plus, they have the advantage of a raucous St James’ with Barcelona the first visitors in Gameweek 1.
Sealing your return to the Champions League with a 3-2 win away at Barcelona is certainly one way to do it and Villarreal wil fancy their chances in this year’s edition.
Nicolas Pepe and Ayoze Perez are two familiar names in an attack that scored 71 goals in 38 league matches last season.
And, although they have never won the European Cup, they did reach the semis in 2022.
Eight goals in the first three La Liga matches this season was the league’s best and just one goal conceded at the other end before last weekend’s defeat at Atletico Madrid shows they are a tricky opponents.
After his 25 goals in Serie A last season, Atalanta are beginning life without Mateo Retegui following his move to Saudi Arabia.
Retegui was a key player in a side that managed to reach third in the league last year and in his place they have signed Niklo Krstovic from Lecce.
They started their campaign with a trip to PSG, but then have a relatively kind draw which will make them hopeful of reaching the playoff stage at least.
Athletic’s best signing for the summer was not a new face through the door but instead keeping of an old one.
It looked a near certainty that Nico Williams was heading for Barcelona but instead he put pen to paper on a long-term deal to stay at the San Mames and boost the club’s chances in all competitions this season.
He, and brother Inaki, are key cogs in Ernesto Valverde’s team and they have recently brought Aymeric Laporte back to the club to bolster the defence.
Tottenham may have won their first European title in 41 years last season, but when it comes to the Champions League, they have hardly left an impression.
They have only played in the tournament seven times with their best effort being the 2019 runners-up medal, but there are a lot of unknowns surrounding this squad when it comes to Europe.
While Thomas Frank has proven to be an excellent operator in the Premier League, he has never taken charge of a Champions League game before, which means Tottenham’s home game against Villarreal will be a step into the unknown.
If Frank can make them click, Spurs have the player quality to go deep in the tournament.
Reigning Serie A champions Napoli are back in the Champions League after a year away and could well prove to be the team to watch outside of the favourites.
To start with, they have Antonio Conte at the helm who has once again proven his ability to take unfancied players and turn them into world beaters (see Scott McTominay).
This summer, they have recruited Rasmus Hojlund in Conte’s latest project.
They have also brought in Kevin De Bruyne who showed in the final days of his City career that he is not a busted flush.
It is a return to the Etihad for De Bruyne to start Napoli’s campaign and Pep Guardiola may have hoped for an easier match for the opening gameweek.
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