Germany and Bayern Munich legend Lothar Matthaus believes Liverpool have proven themselves as one of the teams to beat in the Champions League this season.
The Reds have earned qualification to the knockout stages with two games to spare having won their first four group matches for the first time despite being drawn alongside Atletico Madrid, Porto and AC Milan.
Liverpool, who reached the Champions League final in 2018 before lifting the trophy 12 months later, were eliminated by Real Madrid in the quarter-finals last season.
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But Matthaus doesn't regard the Spanish giants - nor moneybags Paris Saint-Germain - as likely winners with three other teams named alongside Jurgen Klopp's men as superior in the competition.
"For me, the favourites for the Champions League are Chelsea, Liverpool, City and Bayern Munich," said Matthaus.
"Barcelona have their problems and Atletico have always been a dangerous team, but they are not as good a team as Liverpool or City.
"Real Madrid have lost their personality without (Sergio) Ramos."
Matthaus, meanwhile, has also discussed the future of Borussia Dortmund striker Erling Haaland, who has been consistently linked with a future move to Liverpool.
"Haaland may end up at Bayern after (Robert) Lewandowsk," he said, speaking to Marca in Spain. "But not alongside him.
"Haaland would fit in better at Real Madrid with (Kylian) Mbappe."
