Real Madrid coach Carlo Ancelotti believes the winner of his side's Champions League play-off clash with Manchester City will be among the favourites to lift the trophy.
Real and City are set to clash for the fourth consecutive season in Europe's elite club competition, with the first leg in Manchester on Tuesday.
But the latest blockbuster showdown between teams more accustomed to meeting in the latter stages is earlier than usual this term after both lost three of their eight games in the new-look league phase.
City sneaked into the knockout stages thanks to a second-half fightback against Club Brugge in their final match and have suffered a staggering fall from grace in the Premier League.
After an unprecedented run of four consecutive titles, Pep Guardiola's men sit fourth in the table, 15 points adrift of leaders Liverpool.
Madrid are in pole position in a three-way title race in LaLiga, ahead of Atletico Madrid and Barcelona, but have also struggled at times this season, hampered by a series of injuries to their defence.
However, the victor in the tie between Real and City has gone on to win the Champions League in each of the past three seasons and Ancelotti expects the streak could continue.
"Yes, the most difficult opponent, most important opponent and against the best manager," Ancelotti said at a pre-match press conference on Monday.
"I'm convinced the team that goes through in this tie will go very deep into the competition."
City won just once in 13 games in a torrid spell between the end of October and December.
Guardiola's men have picked up slightly in 2025, but their frailties were still exposed in a 5-1 thrashing by Arsenal in their last Premier League match.
Ancelotti expressed his surprise at that run but believes City still have the players and coach to do damage to the Champions League holders.
"I continue to think City is one of the best teams in Europe and that they have the best coach in this competition. It is still the most difficult game we could have," he said.
"I am surprised they had a period where it was difficult to overcome the injuries but now the team I saw in the last few games is a good team, a competitive team.
"I struggle to imagine Manchester City not being strong. They are really strong with fantastic players and a fantastic manger."
Ancelotti will have to field a makeshift defence after Lucas Vazquez became his latest injury casualty.
Dani Carvajal, Eder Militao, Antonio Rudiger and David Alaba are also absent from the Madrid squad.
Midfielders Aurelien Tchouameni and Federico Valverde are expected to start in the back four alongside Raul Asencio and Ferland Mendy.