Manchester city are the first favourite, they are playing on another dimension ever since Erling Haaland was signed,then there is real Madrid who has history, experience and luck in this competition then we have Bayern Munich.
The supporters of Manchester city have high hopes for Haaland hoping that he will be the one to help break pep's champions League curse. I think it is possible as well judging from how well he has settled into the team. Manchester city going against any other team have a high chance to win because they have always been a goal scoring chance creating team and with the addition of Haaland, who can convert like 8 in 10 chances created, i don't see any team being able to stop them, except their own over confidence.