The first leg for each of the eight round of 16 ties in the UEFA Champions League have now concluded, and we have learned a lot about all 16 clubs left in the tournament.
Going into the second leg of the round of 16 ties, there are still plenty of clubs that can advance to the quarterfinals.
While we all know the chances of each club to advance to the final eight, what about each club's odds of becoming the winner of the 2012-13 edition of the Champions League?
Based on the form of all 16 clubs and their results in the first leg of the round of 16, these odds have been put together to determine who has the best chance of coming out on top at Wembley Stadium on May 25.
Celtic did not do themselves any favors at home last Tuesday in their 3-0 loss to Juventus, and their chances of even making the quarterfinals are slim to none.
Neil Lennon's club gave up two goals in the final 13 minutes of their first leg tie with Juventus at Celtic Park, and they will have to mount a monumental comeback in Turin to advance to the final eight.
Only Inter and Sampdoria have come out of Juventus Stadium victorious this season and based off of the first leg in Glasgow, the Bhoys do not stand a chance when they venture into Northern Italy on March 6.
Trying to find a positive to take out of Arsenal's 3-1 defeat against Bayern Munich is a difficult task.
Arsene Wenger is on the hot seat and the immediate future does not look bright for the Gunners, but at least they scored a goal.
The Gunners will be two goals down going into the second leg at the Allianz Arena and unless they pull off a miraculous comeback, the North London club will be shut out of the trophy winning business once again this season.
Malaga came out of their first leg of the round of 16 at the Estadio do Dragao only down by a goal to Porto.
While there is a good chance that the cash-strapped Spanish club will advance to the quarterfinals, they are not a club capable of winning the outright title.
The Spanish side did surprise many by finishing first in Group C ahead of AC Milan but they lack the experience to make a run far into the knockout stage.
With their offensive star Isco not playing a role in the 1-0 loss to Porto, there has to be plenty of concern about whether the 20-year-old is ready to lead a club on Europe's biggest stage.
Valencia did not help their title hopes in the first leg against PSG but they did not hurt them either.
Adil Rami's 90th-minute goal at the Mestalla put Los Che behind by just one goal heading into Paris on March 6.
While the Spanish club still have a chance of overtaking PSG in the round of 16, their title chances are still those of an outsider.
Much of Valencia's fate after the round of 16 will lay in the hands of the draw.
If Los Che stay away from the powerhouses like Real Madrid, Manchester United, Bayern Munich and Barcelona, they have a better chance of pulling off a run deep into the knockout stage just like the one of Schalke two seasons ago.
Schalke did come out of Istanbul with a 1-1 draw against Galatasaray on Wednesday but they are not a side that is capable of winning the Champions League.
The Gelsenkirchen-based club has struggled on the domestic level, and they are susceptible to being beaten at the Veltins Arena.
Even if they can get past Galatasaray in the round of 16, the magic of the 2010-11 season, when the club reached the Champions League semifinals, will not rear its head again this season.
Shakhtar Donetsk were in prime position to go into the second leg against Borussia Dortmund up by a goal until the 87th minute at the Donbass Arena.
The late goal by Dortmund's Mats Hummels erased any advantage that the Ukrainian champions had going into the second leg.
The goal by Hummels also dampened the hopes of advancing past the round of 16, and Shakhtar will face a very difficult trip into the Westfalenstadion on March 5.
Shakhtar are a dark horse to win the title, and they have gone on the road in the group stage and fought hard against Juventus and Chelsea.
With all that being said, Shakhtar are still a dark horse to win the title even if they somehow find a way to win in Germany.
While PSG did come out of the Mestalla with a 2-1 victory last Tuesday, they did suffer a great loss in the form of Zlatan Ibrahimovic, who was handed a straight red card in the 90th minute for a tackle on Andres Guardado.
With their leading scorer missing for the second leg against Valencia and possibly longer depending on what UEFA rules on the situation (via FOX News), PSG will have to find other players to step up and score goals.
The goal-scoring pressure will most likely shift to the shoulders of Ezequiel Lavezzi and Javier Pastore, both players scored a goal each in the first leg of their round of 16 tie.
If the Parisians can find someone to score in the second leg and Ibrahimovic's suspension is not extended, the chances of them winning the Champions League title are high.
While their attack gets most of the press, the back four at PSG has turned into one of the best in Europe with Alex and Thiago Silva, who is expected to be back for the second leg barring an injury setback, anchoring the unit.
Any club that possesses a goal scorer who is in terrific form and veterans who have been to the Champions League final in the past has a chance of advancing far in this competition.
However, Galatasaray did not take full advantage of their home stadium and drew 1-1 with Schalke in the first leg of their round of 16 tie.
Going into the Veltins Arena and snatching away a win from Schalke will not be an easy task but with three more weeks for Didier Drogba and Wesley Sneijder to jell with their new teammates, Galatasaray could be a completely different squad by that time.
If Drogba and Sneijder are able to provide Burak Yilmaz with quality passes for the competition's leading scorer to finish, the potential success for the Turkish club could be historic.
Porto received a 58th-minute goal from Joao Moutinho as they took down Malaga at home, 1-0.
The Portuguese champions have a lot of work to do on March 13 at La Rosaleda but they are in spectacular form at the moment, and no one expects that to change over the course of the next three weeks.
Not only are the Portuguese league leaders in the midst of a 13-match unbeaten run, they have a forward in Jackson Martinez who is scoring at will this season.
With an experienced squad and a hot goal scorer, Porto has a chance to pull off a shock and make it into the final stages of the knockout phase.
Manchester United came out of the Bernabeu with a 1-1 draw last Tuesday, a result in which they earned a crucial away goal ahead of the second leg at Old Trafford.
The Red Devils were delivered a massive injury blow over the weekend in domestic action when Phil Jones limped off of the pitch with an ankle injury.
With one of their best defenders out injured, the shaky-at-best United back four will have plenty of trouble with the Real Madrid attack.
Regardless of how strong their attack is this season, without a trustworthy back four, United will not be in the mix for the title when the dust settles.
Juventus head into the second leg of the round of 16 in the best shape of all the clubs left in the competition.
The Bianconeri took care of business in Glasgow last Tuesday, and in the process they proved that they could go into the most hostile environments and come out with a win.
The win over Celtic marked the first road victory of the European season for Antonio Conte's club, and they will have to win a few more matches on their travels if they want to end up at Wembley.
Juventus have a very good shot of advancing far in the knockout stage if their terrific midfield trio of Andrea Pirlo, Claudio Marchisio and Arturo Vidal keep playing like they have all season.
Also playing into the hands of the Bianconeri is the possession of a world-class keeper in Gianluigi Buffon as well as a strong three-man defense anchored by Andrea Barzagli.
AC Milan delivered the shock of the knockout stage so far with a 2-0 victory at the San Siro over Barcelona.
Now, the daunting task of coming out of the Camp Nou with a victory is staring the Rossoneri in the face.
While coming out of Barcelona with a win will not be an easy task, this Milan squad are not short of confidence, and they will not be intimidated by the atmosphere at the Camp Nou on March 12.
If they can get a result in the second leg of the round of 16, the Rossoneri will be a strong contender to make a surge towards Wembley.
Real Madrid have no reason not to go all-in during the knockout stage.
Los Blancos have no chance of catching Barcelona for the La Liga title, and Jose Mourinho would love to reign supreme in Europe once again in what is suspected to be his final season in Madrid.
In their first leg against Manchester United, Mourinho's men drew with their English opponents, 1-1, and they have a great opportunity to knock out one of Europe's best clubs on March 5.
Mourinho is one of the best managers when it comes to the Champions League, and he has a squad that is hungry to win a trophy this season.
If they get a win at Old Trafford, expect Real Madrid to charge ahead towards Wembley at an alarming rate.
Despite being down by two goals heading into their second leg of the round of 16 against AC Milan, Barcelona are still one of the favorites to win the Champions League.
The Catalan club do get to host AC Milan at the Camp Nou, and that home field advantage is more valuable than it has ever been.
With a home crowd fully behind them in the second leg and the added motivation to prove to the whole of Europe that their dynasty has not come to an end, Barca will play with plenty of fury in the second leg.
With a world-class lineup that includes the likes of Xavi, Andres Iniesta and Lionel Messi, Barcelona can never be counted out of the Champions League, especially with 90 minutes still to play.
Borussia Dortmund are in a great position to continue their run towards Wembley after coming out of the Ukraine with a 2-2 draw last Wednesday.
Dortmund came out of the group stage as one of the favorites to win the title, and they are in position to take the next step towards European glory at home against Shakhtar on March 5.
With a Bundesliga title out of reach, Jurgen Klopp's team will have their full focus on winning at the continental level, and they have a squad that is fully capable of doing just that.
Mats Hummels and Neven Subotic have proven to be a formidable duo in defense while the attacking options at the club are endless.
Robert Lewandowski and Marco Reus spearhead the dangerous attack while Mario Gotze and Jakub Blaszczykowski are reliable goal scorers as well.
With one of the most complete squads left in the competition, Dortmund are one of the few clubs that are favored to lift the Champions League trophy at Wembley in May.
Bayern Munich were dominant at the Emirates Stadium on Tuesday in their 3-1 win over Arsenal.
There was only small mishap in their performance, and that came on the lone Arsenal goal when a defensive lapse led to Lukas Podolski scoring against his old club.
The small defensive error was easily erased from the minds of fans around the world as the leaders of the Bundesliga showed why they are considered the favorite to win the Champions League at the moment.
Not only is their attack, which is led by Mario Mandzukic, firing on all cylinders, the back four for Jupp Heynckes' club is difficult to score on at the moment.
Bayern Munich are the most complete club in the tournament right now, and it is hard to see them not winning at Wembley on May 25.
Who do you think has the best odds to win the Champions League?
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