Eight teams remain in the UEFA Champions League’s rapid-fire return, with one-legged ties promising high drama in Portugal.

The quarterfinals begin Wednesday, the bracket distinctly split into one deadly half and another with upset potential.

Because of this set-up, there’s a massive challenge in divining the true favorites to win the Aug. 23 in Lisbon.

[ MORE: JPW’s European predictions ]

If you were assembling a bottom-up power rankings in terms of the talent and toughness assembled by the eight remaining clubs, it might look something like this:

Longshots: Atalanta, Lyon
Puncher’s chance: Atletico Madrid, RB Leipzig
History-weighted powers: Man City, Paris Saint-Germain
Favorites: Barcelona, Bayern Munich

Here’s the rub: Three of the four biggest favorites will have to get through each other to get to the final, including the two top dogs. Barcelona and Bayern Munich will scrap Friday, and Man City’s slight advantage in facing Lyon is mitigated by one day’s less rest for a Bayern-Barca winner.

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Man City is the bookies’ favorites to win the whole thing. Do we see it that way? Spoiler alert: Nope.

And, by the way, despite changes to both outfits this is a Lyon that took four of six points from City in the 2018-19 UCL group stage. We don’t see an upset at that stage but it’s a way to note that anything is, indeed, possible.

8. Lyon

Seventh-place in Ligue 1 this season, Rudi Garcia’s men already have the beating of Cristiano Ronaldo and Juventus on their resume. Moussa Dembele, Houssem Aouar, and Memphis Depay are all exciting attacking talents, but the bracket’s demands to take down Man City, then either Bayern and Barcelona just to get to the final sinks them to eighth.

7. RB Leipzig

Julian Nagelsmann is building a reputation as a man who can outwit anyone in a one-off — see two draws with Bayern in Bundesliga play this season — so it’s fitting that he’ll go tete-a-tete with Simeone in the next round. The absence of Timo Werner, who’s off to Chelsea, is a huge problem given the occasion(s). Asking three wins seems a lot, though there will be plenty of Americans pulling for Tyler Adams’ team.

6. Atalanta

The Bergamo-based side will have the support of many neutrals. For one thing, Atalanta is on a historic run for their club before taking into account their city’s status as one of the early epicenters of the coronavirus. For another, they are super fun. Gian Piero Gasperini’s men scored 98 goals in Serie A, 19 more than next-best Lazio, and lost the second-fewest games in Italy. They’ve lost once since January 25, a final day defeat to Inter Milan. Five players have scored double-digit goals in all comps this season.

5. Atletico Madrid

Ask Liverpool: Diego Simeone and Jan Oblak in knockout round football is reason to doubt anyone. Still, there’s an argument to be made that Atleti has punched well above its weight this season, even relative to El Cholo’s standards.

4. Barcelona

Lionel Messi means the club should be even higher on this list, and Antoine Griezmann and Luis Suarez are plenty battle-hardened in this spot. But Barca has made a mess of their last few ventures into the latter rounds of this tournament, and those ghosts combined with having to beat Bayern and perhaps Man City in consecutive weeks is brutal with several u’s.

3. Paris Saint-Germain

There’s a good argument to be made that PSG might hold the top spot on this list. Thomas Tuchel’s men are better rested and have a more straight-forward path to Lisbon, plus the Ligue 1 champs have played and won two Cup finals in the past three weeks. There are two reasons we’re keeping them below Man City and Bayern. One is the UCL-challenged history that has us as well as surely them seeing ghosts, and the other is the uncertain status of Kylian Mbappe. He’s in the squad, but at what percent?

2. Manchester City

The reason to consider putting City above Bayern is the men in charge. Hansi Flick has done oh-so-well at Bayern but is certainly not Pep Guardiola in terms of big-game acumen or reputation. But City’s defense has proven suspect, with John Stones falling off a cliff and Nicolas Otamendi not at the levels of previous seasons. Relying on Fernandinho, Aymeric Laporte, and Eric Garcia to shut down three top attacks in two weeks is a big ask, and left back is also a huge concern with the talented wingers set to test City.

1. Bayern Munich

No weaknesses aside from potentially having to beat Barcelona and Man City inside of six days. Boasting one of the only double-double men in Europe’s top leagues in Serge Gnabry, a played who doesn’t get mentioned as often as history-chasing Robert Lewandowski and history-making Thomas Muller. A midfield duo of Leon Goretzka and Joshua Kimmich which is just plain stupid. Speed and composure to spare with Manuel Neuer at the back. The German keeper may no longer be the undoubted 1 or 2 in the world, but he’s still a monster.