Paris Saint-Germain have had one of the best transfer windows ever.
The French giants have signed four world-class players for free: Gianluigi Donnarumma, Georginio Wijnaldum, Sergio Ramos and Lionel Messi.
They also made Danilo Pereira's move permanent and signed one of the best right-backs in the world, Achraf Hakimi, in a €70m move from Inter Milan.
PSG will now be hoping that they can win their first Champions League title.
But are they favourites to win the trophy in 2021/22?
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Europe's premier cup competition is already underway with teams bidding to qualify for the group stages, which commences next month.
We've listed the 20 favourites to win this season's competition using figures provided by Sky Bet.
20. Lille - 100/1
19. VfL Wolfsburg - 100/1
18. AC Milan - 66/1
17. Ajax Amsterdam - 66/1
16. Porto - 66/1
15. Sevilla - 66/1
14. Atalanta - 50/1
13. RB Leipzig - 50/1
12. Inter Milan - 40/1
11. Borussia Dortmund - 33/1
10. Atletico Madrid - 25/1
9. Juventus - 20/1
8. Barcelona - 20/1
7. Real Madrid - 16/1
6. Manchester United - 12/1
5. Liverpool - 10/1
4. Chelsea - 9/1
3. Bayern Munich - 8/1
2. Manchester City - 7/2
1. Paris Saint-Germain - 3/1
They aren't overwhelming favourites, though, with last season's beaten finalists Man City also expected to mount a strong challenge for the title.
Bayern round out the top three, just ahead of reigning champions Chelsea.
Man United are surprisingly sixth favourites despite being knocked out at the group stage in 2020/21.
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They are more fancied than Real Madrid and Barcelona, both of which have fallen on hard times in recent years.
Elsewhere, the bookies don't think Cristiano Ronaldo and Juventus have a great chance of winning Europe's top prize, while AC Milan only just sneak into the top 20 despite a promising campaign in 2020/21.
The bookies also don't think Lille have a good chance of winning the competition, despite pipping PSG to the Ligue 1 title in 2020/21.