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The most likely individual achievement for Benzema this season is Laliga's top scorer as well as Champions League top scorer. Benzema has scored 27 goals so far in Laliga and 15 in the Champions League. For the Ballon D'or I think Benzema will still be competing with some other players, but the chances might be good if Real Madrid win the Champions League title from Liverpool.
True, without Benzema Madrid is like losing a goalscoring striker. That was evident in some games Madrid played a draw and even lost. Of course the rumors of Mbaape's arrival to Madrid I hope are true. This is regeneration, Benzema is getting older and he may not be able to survive for 4 more years. As for the Finals, it's hard for both teams to have the same great opportunity. Both teams are equally good. They have the same statistics. But I hope Madrid will win, because I am a Madrid fan.
You have expectations of seeing Real Madrid win their 14th Champions League title this season, and the same goes for the Liverpool fans who are very excited to see their team win their 7th title of the season. Both have equal chances and really I think it's hard to guess who will win it.
History says that Real Madrid are better at winning the Champions League title in every final they can reach, but who knows because Liverpool also want to win it from Real Madrid.