The UEFA Champions League, Europe`s premier club competition, has once again unfurled its grand spectacle, and just two matchdays in, the narrative of the 2025-26 season is already taking intriguing shape. While the road to the final is notoriously long and fraught with unpredictable twists, the opening rounds have provided a tantalizing glimpse into which clubs possess the early momentum, the tactical acumen, and perhaps, the sheer audacity to dream of lifting the coveted trophy.
With only six teams emerging from the initial skirmishes with perfect records, a distinct pecking order, albeit provisional, is beginning to form. Among these flawless few, one particular name stands out as a delightful anomaly amidst the usual suspects.
The Early Pace-Setters: Familiar Giants and a Remarkable Underdog
The expectation is often that Europe`s financial behemoths and historical powerhouses will assert dominance from the outset. This season is largely holding true to form, with a notable exception. Alongside the familiar crests of Paris Saint-Germain, Real Madrid, Arsenal, Bayern Munich, and Inter, we find a truly unexpected entry: Qarabag. The Azerbaijani side, not content with merely participating, have stunned pundits by securing victories against Benfica away and Copenhagen at home. Their performance serves as a stark reminder that in the Champions League, the script is rarely written in advance, and ambition can often trump pedigree.
Paris Saint-Germain: Building on a Legacy
Having claimed the Champions League crown in the previous season, Paris Saint-Germain arrived at this campaign with a newfound swagger. Far from resting on their laurels, they`ve demonstrated an even sharper focus. An emphatic 4-0 home victory against Atalanta was followed by a statement 2-1 win at Barcelona, a particularly poignant fixture for their coach. PSG`s early resolve, even amidst injuries to key players like the 2025 Ballon d`Or winner Ousmane Dembele, suggests a team that has not only learned from past European struggles but is actively forging a dynasty. Their blend of individual brilliance and collective self-belief makes them a formidable contender once more.
Arsenal: The Ascent of Arteta`s Gunners
Mikel Arteta`s Arsenal have commenced their European journey with a precision and confidence that speaks volumes about their evolution. Two clean-sheet victories – 2-0 against Athletic Club away and another 2-0 at the Emirates against Olympiacos – signal a team that is not just competitive but demonstrably on the right trajectory. The significant summer investments, bringing in talents like Viktor Gyokeres and Eberechi Eze, have deepened a squad that can now withstand the rigours of domestic and European commitments. The looming fixture against Atletico Madrid will undoubtedly serve as a crucial barometer, but the early signs suggest Arsenal are serious about making a deep run.
Real Madrid: The Unyielding Quest for the 16th Star
To speak of the Champions League is to inevitably speak of Real Madrid. It is, after all, their spiritual home. Under the fresh guidance of Xabi Alonso, the Blancos have embarked on yet another relentless pursuit of their beloved trophy. Their domestic form, until a recent derby hiccup, was spotless, and their European campaign has been similarly authoritative. A solid home win against Olympique Marseille was followed by a staggering 5-0 triumph against Kairat, a testament to their enduring quality regardless of the opponent or the arduous travel. With a history steeped in European glory and a refreshed squad, Real Madrid doesn`t just contend; they feel an almost divine entitlement to the final.
Bayern Munich: The Quietly Dominant Force
Perhaps the most “underrated” of the early frontrunners, Bayern Munich under Vincent Kompany have been nothing short of spectacular. A perfect five wins from five in the Bundesliga, coupled with a dominant 3-1 victory over Chelsea at the Allianz Arena and an away win against Pafos, paints a picture of a team firing on all cylinders. The sting of missing out on last season`s final in their home stadium has clearly fueled a renewed determination. New arrivals like Nico Jackson, complementing the existing firepower of Harry Kane, suggest a squad that is not just potent but also incredibly focused. To underestimate Bayern would be a tactical error of the highest order.
Inter: A Tale of Redemption and Resilience
Inter`s journey this season is laced with the bitter taste of last season`s 5-0 final defeat to PSG. Under new coach Cristian Chivu, who took the reins after that devastating setback, the Nerazzurri are clearly driven by a profound sense of revenge. Early wins against Ajax (2-0) and Slavia Prague (3-0) provide a solid foundation, even if tougher tests await against Liverpool, Atletico Madrid, and Arsenal. Despite losing two Champions League finals in the last three seasons, the core of this squad remains, and that collective memory, combined with a desire to rewrite their European narrative, could be a powerful catalyst for a deep, perhaps even victorious, campaign.
The Giants in Flux: Challenges and Aspirations
While the top six have started impeccably, some of Europe`s traditional titans find themselves navigating choppier waters, grappling with tactical adjustments, new personnel, or persistent vulnerabilities.
-
Barcelona: Defensive Dilemmas Persist
Hansi Flick`s Barcelona, while showcasing flashes of their undeniable attacking brilliance, especially in their away win against Newcastle, appear to be wrestling with familiar defensive frailties. Their loss to PSG at home underscored that the issues that plagued them last season, where they conceded seven goals in two legs in the semi-finals against Inter, are still largely unresolved. The collective talent is immense, but European success often hinges on defensive solidity, a quality they are still striving to consistently achieve. -
Manchester City: The Art of Reconstruction
Pep Guardiola`s Manchester City, usually a benchmark of consistency, are in an uncharacteristic phase of tactical recalibration. Significant roster changes over the summer, coupled with the immense void left by Kevin de Bruyne, mean the team is still very much a work in progress. Early Premier League losses and an away draw against AS Monaco in the Champions League suggest they are not yet at their customary imperious level. The talent is there, undoubtedly, but it is clear that for City, the intricate gears of Guardiola`s machine require more time to synchronize perfectly. -
Liverpool: Searching for Cohesion
After dominating the 2024-25 Premier League season, expectations were sky-high for Arne Slot`s Liverpool in Europe. However, their Champions League start has been a mixed bag: a last-minute winner against Atletico Madrid followed by a disappointing loss to Galatasaray. Critics, notably Jamie Carragher, have pointed to a style of play that is perhaps too open, likening it to “basketball” rather than the disciplined football expected of a top European contender. The undeniable energy is present, but converting that into consistent European performance, especially defensively, remains the critical challenge.
The Champions League is a marathon, not a sprint, and the early stages are merely the opening chapters of what promises to be another gripping saga. While some teams have laid down an undeniable marker, others are still finding their footing, grappling with their identity, and seeking that elusive blend of form, fortune, and tactical genius that ultimately leads to continental triumph. The beauty of this competition lies precisely in this dynamic uncertainty, promising a captivating journey for football enthusiasts across the globe.
