The UEFA Champions League's knockout rounds are officially upon us, kicking things off with first-leg ties in the knockout phase playoffs as a batch of Europe's top teams begin to claw their way to the round of 16.

Real Madrid return to Champions League play on Tuesday with a rematch of their league phase finale against Benfica, a dramatic 4-2 defeat that saw them reduced to 10, concede a goal scored by Benfica's shot-stopper and slip out of the top eight along the way. Los Blancos aim to correct course in a season full of ups and downs, anchored by an in-form Kylian Mbappe and Vinciius Junior and boosted by the long-awaited return of Trent Alexander-Arnold during his injury-plagued first season in Madrid.

Elsewhere in Europe, reigning champions Paris Saint-Germain resume their title defense with a two-legged tie against fellow Ligue 1 side Monaco. They are favored to advance, but return to European action in the midst of a downward turn in form, which only increases the pressure on France's first treble-winning side to live up to the billing as the knockotus begin.

As the action nears, here's a look at what the CBS Sports team is predicting ahead of a consequential batch of matches.

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Tuesday's Champions League matches

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Wednesday's Champions League matches

Favorites with most reasons to worry

James Benge: Inter -- As Manchester City discovered a few weeks back, this is not a good time to be running into Bodo/Glimt, any lack of rhythm from the absence of domestic football clearly offset by the freshness the Norwegians can bring in the freezing north. Inter have looked very, very good lately but anything can happen in knockout football, particularly when the first leg takes place in such trying circumstances.

Pardeep Cattry: Juventus -- Juventus have undoubtedly improved since bringing in Luciano Spalletti as the coach last fall, keeping themselves competitive in a fiercely-contested battle for a top four berth in Serie A. Their imperfections are hard to miss, though -- Weston McKennie's impressive form is a highlight but Juventus are currently a bit porous in defense, which could hamper their chances of making their deepest Champions League run in four years. Galatasaray struggled at times during the league phase, but they tend to hold their own at home and boast two reliable goalscorers in Victor Osimhen and Mauro Icardi. It makes Juventus particularly vulnerable in the knockout phase playoffs, progression no sure thing even if they are the favorites.

Francesco Porzio: Atalanta -- The Italian team is the favourite to make it to the knockout stages against Borussia Dortmund, but will need to be extra careful especially in the first leg that will be played away in Germany. The side coached by Raffaele Palladino is considered one of the best teams of the playoffs and come from three wins in a row against Lazio, Cremonese and Juventus in the Coppa Italia quarterfinals. 

Chuck Booth: Juventus -- It may be a stretch calling Juventus favorites, but RAMS Park is one of the toughest places in the world to play. This is a Juve side that has been playing uncharacteristically fun soccer these days, but they're far from consistent, which is where Victor Oshiemen and Galatasaray can make something happen. If Juve leaves this game behind on aggregate, it could be hard to find a way back.

Underdogs that will get into the round of 16

James Benge: Galatasaray -- Should a team with Victor Osimhen in it be considered underdogs? Perhaps only because Galatasaray have drawn a quite impressive opponent in Juventus. Okan Buruk's side have been flying lately in the domestic game and have already gotten impressive results against Liverpool and Atletico Madrid at home. 

Pardeep Cattry: Galatasaray -- Three wins in the league phase does not make for the most impressive record, especially when they came against an out-of-form Liverpool and two inferior opponents in Bodo/Glimt and Ajax, but Galatasaray have always been well-positioned to punch above their weight in a competition like this one. The aforementioned Icardi and Osimhen have 15 goals each across all competitions, the pair alone offering enough might to make things interesting against Juventus, though they have star quality in other areas of the pitch, too. The odds make it improbable -- they have not reached the Champions League round of 16 since the 2013-14 -- but if there's any tie that has upset watch written all over it, it's this one.

Francesco Porzio: Club Brugge -- The Belgian team was probably one of the biggest disappointments of the league phase but at the end managed to qualify for the playoffs. They will face Atletico Madrid and despite being less competitive, the Spanish giants are not living their best season under Diego Simeone and recently lost 3-0 against Rayo Vallecano over the weekend, underlining the issues they are currently facing. 

Chuck Booth: Qarabag -- The Azerbaijani side may have cooled off after their hot start to league phase play, but facing a Newcastle United side who are dealing with fixture congestion and one of the longest trips that any team will take during UCL play. That much travel and the pressure of being a Premier League side can lead to upsets, which is something that Eddie Howe will have to watch out for.

Team that most needed a bye, yet has to play the playoff

James Benge: Newcastle -- If nothing else, can you imagine how embarrassing it is turning up to the next Premier League meeting when you're the only team who didn't get top eight in the league phase? Lads, even Tottenham did that. A 5,000 mile round trip to Baku could scarcely come at a worse time for injury addled Newcastle, who had to dig deep to beat Aston Villa in the FA Cup and will have to keep one eye on Saturday night's game at Manchester City.

Pardeep Cattry: PSG -- The reigning champions have all the tools they need to succeed and boast a favorable tie against Monaco, who have been in middling form in Ligue 1 and the Champions League this season. Paris Saint-Germain, though, enter the knockout phase playoffs in the midst of a rough patch -- they have won just four of their last eight, a run of form that saw them knocked out of the Coupe de France, fail to break into the Champions League's top eight and slip to second in Ligue 1. If anyone can turn things around, it's Luis Enrique's team, but the onus is on them to snap out of their funk in order to do so.

Francesco Porzio: AS Monaco -- The French only won two of the eight games played in the league phase of the Champions League and despite that qualified as the 21th team in the standings. For this reason they will now meet PSG in the playoffs, one of the most difficult matchups they could possibly imagine. 

Chuck Booth: Borussia Dortmund -- Faced with one of the toughest matchups in the entire knockout phase, you may not know what you'll get from Atalanta on a day-to-day basis, but they'll give Dortmund all they can handle in these two legs. The German side will expect to make it to the round of 16 due to their success going deep in this competition in previous years, but getting the toughest draw that they could, won't make it easy.

Playoff team most likely to win it all

James Benge: PSG -- The form and particularly fitness that Luis Enrique found at the back end of last season hasn't really returned to PSG for any consistent run of games. When it has, however, this has still proven itself to be a team who can blitz the best that Ligue 1 has to offer, except for some weirdness against Rennes. There is no reason to think that they don't at least belong among the top three favorites to win the Champions League. 

Pardeep Cattry: PSG -- Sure, they may not be at their best at this exact moment but the shine of their hisotric treble has not actually worn off PSG. They have been unlucky at times during their recent skid, a signal that they can still hack it amongst Europe's elites as long as they end the streak of inconsistency. The knockout phase playoff tie against Monaco offers a great chance for them to reset but even if they progress in unideal circumsntaces, the teams that await them should discount them at their own risk.

Francesco Porzio: PSG -- The 2024-25 Champions League winners are finally back at their usual level. The French giants are at the top of the Ligue 1 standings and they are gaining their best form after a challenging first part of the season. They are reaching their best form when it counts.

Chuck Booth: PSG -- We're unanimous here for a reason. The reigning champions of this competition, there's no reason why PSG can't win it again. When Ousmane Dembele has been on the pitch, this is one of the best teams in the world. They've had to spend more time without him than anyone would prefer, but if PSG are able to get through this round and get healthier as a squad, look out.