And then there were eight. The final eight teams in the Champions League have been revealed and it has become increasingly clear that this tournament will be one of the most hotly contested in years. Which team is the favorite to win the tournament?

8. Manchester United

It is pretty easy to pick this one.

Manchester United's season has been a disaster at best and the fact that the side managed to overturn its 2-0 deficit may be the best thing to happen to David Moyes all year. However, considering the depth of the remaining sides it is easy to place United at the very bottom of the table.

7. Borussia Dortmund

It may seem like a steep drop for the German side, especially after finishing in second a year ago. However, Dortmund has had a tough year and has not proven itself to be a consistent contender. A solid performance in the quarterfinals could change everything and it should be interesting to see which team gets drawn with Jurgen Klopp's team.

6. Atletico Madrid

Diego Simeone has done wonders with the Spanish side and it will be interesting to see just how the club responds in the quarterfinals. Diego Costa is a major threat to any defense while the remainder of the club plays in a solid system. It is essential to remember that this team struggled early on against AC Milan in the first leg of that tie; a sign that Madrid is not invincible.

5. Paris Saint-Germain

The French giants jumped out to a 4-0 lead against a weak and inexperienced Bayer Leverkusen. Despite the advantage one would expect the team to play for pride at home. The result was a shocking 1-1 draw in which the French contingent looked largely uninterested. Zlatan Ibrahimovic is the focal point of the club. He has had the advantage of running rampant against mediocre teams in this competition; unless his side draws Olympiacos, he is bound to face the stiffest competition yet.

4. Chelsea

Jose Mourinho's club has had little to boast about in this competition. However, he has always found a way to get victories out of them and that is the main reason for placing Chelsea this high. The offense is still in disarray, especially when Eden Hazard has a bad day, but the defense has been strong enough to help the team win games.

3. Barcelona

Blaugrana is slowly finding its form again but will certainly face stiffer competition at this stage in the tournament than it has thus far. Despite a classy 4-1 aggregate win over Manchester City, the Spanish side showed some weaknesses throughout the tie that could easily be emphasized by a better team. Fortunately, Lionel Messi is back to his best and that could be the difference between this year and last.

2. Real Madrid

It seems that anything Messi can do, Cristiano Ronaldo can do better. The Real Madrid superstar is three goals away from breaking the all-time Champions League goal-scoring record. He is already averaging a goal per game throughout his UCL career. But Madrid's success thus far is not just about Cristiano Ronaldo. Carlo Ancelotti has found a magic formula to get this team working like an offensive machine.

1. Bayern Munich

They are still the champions and have played tremendously well thus far in the tournament. The team has shown some weakness in its last game against Arsenal as well as its loss against Manchester City. Otherwise Munich has given no reason to believe that it cannot repeat as the Champion.