Of course we are favourites, but Chelsea cannot be underestimated for any reason.
Yep. You are right. Real Madrid is clearly the favorite team but they can't underestimate Chelsea if they want to win the match.Lampard and Ancelotti are two different coaches. Ancelotti is a coach who has a wealth of experience in the Champions League which will put a lot of advantages over him, so I think we should be the favorites even if Lampard is determined to build a fragile Chelsea.
The obvious thing, Ancelotti is more experienced to win UCL. He knows well how to qualify for the final round. I never doubt how Ancelotti's tactic to win each match in UCL. While Lampard, has no experience to win UCL as a coach. I'm not sure how Lampard to build a tactic for the current Chelsea squad. But it looks not very convincing if we look at the current players and their motivation in playing.As you said, I agree. Ancelotti is a coach who has experience and has had a fantastic run in the Champions League mainly because he has won several titles. Meanwhile, Chelsea and a number of their new players are struggling to find their identity again after being slumped this season. The Champions League is difficult, so we can't be sure which team will win before playing.
We all agree that Real Madrid has a better situation to win UCL, they have a more experienced coach and a stronger squad. However, it is just a stats or theory. The result of the match can be surprising or very different from our prediction. 