Arsenal have been cut to 6/1 in bwin’s Champions League winner odds after being drawn against Porto in the round of 16.
The Gunners are fourth in the outright betting while Premier League rivals Manchester City remain 2/1 favourites to retain the trophy ahead of their clash with FC Copenhagen.
The ties, the first legs of which will take place over two weeks in February 2024, were confirmed after the draw at the Swiss headquarters of organiser UEFA in Nyon on Monday.
Arsenal were convincing winners of Group B on their return to the competition after a six-season absence and are now 5/2 to reach the final. Their opponents Porto came through as runners-up to Barcelona in Group H and are 100/1 to win the competition.
City played Copenhagen – who came through a group that included Manchester United – in the early stages last season, winning 5-0 at the Etihad Stadium and drawing 0-0 in Denmark.
Pep Guardiola’s side, who are currently in Saudi Arabia for the Club World Cup, qualified this time with a 100 per cent record in Group G.
Spanish champions Barcelona, meanwhile, have been handed a tough task against Serie A winners Napoli and are now sixth favourites at 16/1 in the Champions League winner odds.
In the other ties, record 14-time winners Real Madrid were paired with RB Leipzig and their city rivals Atletico drawn against Inter Milan.
Paris St Germain will play the fourth Spanish side in the draw, Real Sociedad, with the two German teams, Bayern Munich and Borussia Dortmund, tackling Lazio and PSV respectively.
As winners of their groups, City and Arsenal will play the first legs of their ties away. The first legs will take place on February 13, 14, 20 or 21 with the return matches on March 5, 6, 12 or 13.
CHAMPIONS LEAGUE GUIDE: ALL YOU NEED TO KNOW
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