Manchester City manager Pep Guardiola has identified four teams capable of winning the UEFA Champions League following his side’s painful exit from the tournament.

Guardiola’s City suffered a heartbreaking 3-1 defeat to Real Madrid in the second-leg clash at the Santiago Bernabeu on Wednesday. The loss sealed their fate, as they bowed out with a crushing 6-3 aggregate defeat, having lost the first leg 3-2 at the Etihad Stadium.

Speaking in his post-match interview, Guardiola acknowledged that Real Madrid are the frontrunners for the prestigious trophy but also highlighted three other teams—Paris Saint-Germain, Liverpool, and Barcelona—as strong contenders.

“Madrid are always favourites for this trophy,” Guardiola admitted. “But there are other top teams in the competition. It’s going to be an exciting season in the Champions League.”

He praised Liverpool’s impressive campaign, Barcelona’s resurgence, and PSG’s strength under Luis Enrique, while reinforcing that Madrid remain the team to beat.

With these European giants in the mix, the road to Champions League glory promises thrilling battles ahead.