And now there are 16.

The Champions League entered its most exciting phase, and now all eyes will be on who gets to take on who in the knockout rounds.

But most importantly, which teams have left us convinced of their contender status? Latin Post.com breaks down the power rankings of the UEFA Champions League's Round of 16: 

16. Schalke 04: The German side was placed into an easy group by most standards and almost bombed its first test. Of course, everyone remembers what happened last year when Real Madrid had a field day with this German side in the Round of 16. Making matters worse, Julian Draxler could be heading for the exits next month, making this team far worse than it currently its.

15. FC Basel: Wait Liverpool was not the second team from Group B? Nope. The English blunders continued in the competition to the benefit of FC Basel, which continues to improve from year to year. The home game against Real Madrid was impressive to be fair and the ability to shut down Liverpool at Ansfield is a huge achievement. The odds of moving on to the next round are minimal at best, but this was successful campaign.

14. Bayer Leverkusen: Last season, the German side managed a similar feat of reaching the knockout rounds, only to be destroyed by a superior Paris Saint-Germain side. Now the German side has a chance at redemption, but it will certainly not come easy after the team finished second in the group. The good thing for the German side is that Bayern Munich is not waiting in the next round. The bad news is that Real Madrid or Atletico potentially are.

13. Monaco: Who honestly had Monaco getting out of this group after losing Radamel Falcao and James Rodriguez in the summer? Now, who had the team finishing atop the group? It probably will not get better than this for Monaco, however, because the teams it could be facing are all arguably stronger. Of course, a meeting with FC Basel could help them through, but that is a one-in-eight team chance.

12. Shakhtar Donetsk: This is a very good team. But simply not one of the best. It would have been interesting to see what the Ukrainian side would have done in a tougher group that did not include punching bag BATE Borisov. Luiz Adriano has been a pleasure to watch and will be the big story to follow in knockout rounds.

11. Porto: The Portuguese side is back to being a top club and took advantage of a rather weak group. However, this team must still prove itself against top sides. It is unlikely that Porto has enough structure or players to overcome a European titan, but an easy Round of 16 draw could put them through to the quarterfinals. Do not expect anything beyond that.

10. Arsenal: The Gunners have not had success in this competition for years, and the last two seasons have placed them in tough binds with match ups against Bayern Munich. Both times, it was clear that there was a gulf between both sides, and Arsenal's play this season has not down anything to indicate that the gap has closed in anyway. This team must hope that Real Madrid, Munich, Barcelona or even Paris are not in their future. Otherwise, it will be yet another sad year for the Gunners in the Champions League.

9. Juventus: Is the Italian side finally ready to make a splash in Europe? The Old Lady has looked great domestically, but that has always been the case over the last five years. The issue has been with play in this competition, and everyone remembers how this very team could not get out of its group last season. This could be a year for change, but finishing second in the group could yield matchups against Real Madrid, Bayern Munich, Borussia Dortmund or even Barcelona/Paris-Saint Germain. None of these are favorable to the Italian side.

8. Manchester City: This team was not good at the start of the group stage. Considering the improvements made in 2013-14, many expected the English champs to come out and lead this group alongside Bayern Munich. The fact that the team needed a miracle in its final game at Roma speaks volumes about the quality of the tournament. However, two wins in its final two games against the toughest sides in the group also speaks about the character of this side. That it won in Rome without its MVP Sergio Aguero is all the laudable. Now they have to prove that they can take the next step in this competition. But beware, Barcelona or Real Madrid could be a disaster for this side.

7. Borussia Dortmund: Jekyl and Hyde. A team that cannot compete consistently domestically but somehow knows how to turn on the jets for the European competition. Dortmund suffered a tough loss against Arsenal in match day five but still looks rather potent. The speed and hung-ho qualities of the attack are a marvel to watch and the team has sufficient talent, led by Marco Reus, to make a deep run in the competition. Is that enough for a repeat of the 2012-13 Cinderella story? Who knows, but this team can surprise.

6. Paris Saint-Germain: Is this finally the year that the French side breaks into the elite? PSG always seems to be close taking the next step, but repeatedly fails at the finish line. The last two years saw the team eliminated on AWAY goals in 3-3 aggregates against Barcelona and Chelsea. The team has shown an ability to take down top contenders, and Zlatan Ibrahimovic is playing some of his best soccer of his career. Edinson Cavani has also found his game again, and this could be a very dangerous side moving forward. But will they manage to overcome the quarterfinals hump? Or how does this team react if it faces Real Madrid or Bayern Munich in the opening act?

5. Barcelona: Los Cules have had an up-and-down season. Early on, Luis Enrique's side was in another dimension playing some of the best collective soccer in recent memory. Everything and everyone was working beautifully. Neymar was scoring goals, and Messi did not need to be the hero every night to drive the team forward. But then Barcelona lost against Paris and then a few weeks later was destroyed by Real Madrid. And then it all came crashing down. The team looked weak and indecisive with the ball. Luis Suarez was not fitting in (and still hasn't found his game with Barcelona).

It was chaos.

And now, back to a show we have all seen before: Messi to the rescue. Messi has regained his dominant scoring touch and looks like the player of 2012. It has come at a cost. Barcelona still looks rather lost without him playing at his best, a demonstration that this team, when all is said and done, is still a one-man machine. That could work in their favor. But it could also lead to disaster if it runs up against Atletico Madrid, Bayern Munich or Real Madrid.

4. Atletico Madrid: Diego Simeone is looking to return to the final of this tournament for the second straight year and has gotten his team going in the right direction in the group stage. Atleti admittedly had a tough group to negotiate with Juventus, Olympiakos and Malmo as rivals. Juventus was obviously the trickier proposition, and Los Colchoneros dispensed with them 1-0 in the opening game. The team showed its dominance against Malmo with two dominant performances over Malmo by an aggregate score of 7-0. Olympiakos was the only side to offer up some challenges for Simeone's bruising style in the group opener, but he did pick up a resounding 4-0 win at home. This team is looking as good if not better than last season and should definitely progress deep into the tournament.

3. Bayern Munich: They have been contenders for the last four years and will continue to be just that in 2014-15. But Pep Guardiola still needs to find a way to balance the team defensively. This is a side that has rarely shown any vulnerability to this point, and Manuel Neuer has been terrific in goal. That said, the game against Manchester City was nothing if not embarrassing for the club. Look for Munich to make a deep run yet again and potentially win it all.

2. Chelsea: Has Jose Mourinho finally found the missing piece? Chelsea has been a contender in Europe throughout the last few years (except 2012-13) but struggled last year to score goals. That is no longer an issue as this team's offense has been as phenomenal as they come. Cesc Fabregas and Diego Costa have been terrific additions that could ultimately lead this team all the way down to the finish line. It should be interesting to see what happens when a match-up with Bayern Munich, Barcelona, Real Madrid or Atletico inevitably takes place.

1. Real Madrid: Los Blancos are the defending champs and look like they are in line to repeat yet again. Early on there were some questions about whether manager Carlo Ancelotti could find balance with his seemingly imbalanced group of midfielders. Not only has he found it, but Madrid's playing style has also been elevated to levels that have not been witnessed in years. This is a team cruised through the group stage with only minor headaches against Ludogorets and Basel on the road. The Liverpool matches were not even fair contests as the Spaniards completely dominated the English side by a combined score of 4-0. The team has depth at all positions and has Cristiano Ronaldo playing at his best. The Portuguese superstar looks hungry for another championship, and with the current state of the team behind him, there can be no doubt that this side can achieve that very goal.

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