This will be underlined this week when the competition comes out of hibernation with the knockout stage featuring an impressive roster of competing teams and a trio of ties that would have surely graced the final.

A quick glance at the respective league standings of the 16 remaining clubs underlines this with only three – Liverpool,
AC Milan and Sevilla – sitting outside the places that would, if the season ended today, be enough to seal a place in next season's competition. Even then, two of these – Liverpool and Milan – still harbour realistic hopes of qualification, even allowing for the Anfield club's shock FA Cup defeat to Barnsley.

Such undoubted quality means tomorrow and Wednesday night should provide a feast of football with the biggest debate for those watching at home being which of the eight ties to settle down in front of.

Three stand out with tomorrow seeing Roma host Real Madrid and Serie A leaders Inter travelling to Liverpool, then on Wednesday the tie of the night will be at the Emirates Stadium where Arsenal face holders
AC Milan.

Predicting the outcome of all three of these two-legged ties would be foolhardy... so, here goes.

Liverpool have been handed possibly the toughest draw with Inter yet to lose in 22 Serie A games this season. The Italian champions also have a superior squad and stormed through their group, so despite Rafa Benitez's side having reached two finals in three years I cannot see anything but an exit for the Anfield club.

Roma are second behind Inter in Serie A, but it is difficult not to believe a Real Madrid side that have been revitalised in the past year will end their interest in the competition.

The departure of Ronaldo in January last year together with Fabio Capello's decision to drop David Beckham – a decision the Italian, of course, reversed as the season reached its climax – brought an end to the Galacticos era in the Spanish capital and the club have not looked back since with Raul, Ruud van Nistelrooy and Robinho now the darlings of the Bernabeu.

For the first time in four years, Real qualified for the knockout stage as group winners and are this column's tip to go on and lift the trophy.

Elsewhere tomorrow, Celtic host Barcelona and few would give the Socttish club a chance of denying the Catalans' progress to the last eight along with Manchester United, who travel to French champions Lyon.

The remaining four first leg ties take place on Wednesday with the clear highlight being Arsenal meeting Milan. The Gunners have been in fine form in the Premier League and it is that determination to regain a title they last won in 2004 that could tip the tie Milan's way, the Italian club having all but conceded Serie A after a poor start.

Chelsea, fresh from disposing of Huddersfield Town on Saturday, are not expected to be unduly troubled by Olympiakos, while Fenerbache v Sevilla and Schalke v Porto verge on qualifying for the 'too close to call' category. Even so, I expect Zico's Fenerbache to progress along with a resolute Porto outfit built on good defence.

Predicted quarter finalists: Porto, Real Madrid, Chelsea, Inter, Barcelona, Manchester United, Fenerbahce, AC Milan.