If I had to bet on just one team, I'd bet on Liverpool as favorites
Even if, as in your example, one of the 3 teams (Liverpool, Leverkusen and Milan) meet in the quarter-finals
But it's not absolute favoritism on the part of the English team, at least in my opinion. Even though Xavi Alonso has less experience as a coach, he has plenty as a player and that could help
To me the classification will be like that:
Classified in bold
Sparta Prague v Liverpool
Marseille v Villarreal
Roma v Brighton
Benfica v Rangers
Freiburg v West Ham
Sporting v Atalanta
AC Milan v Slavia Prague
Qarabag v Leverkusen
Xabi Alonso ain't looking like he's got no experience, rather he be giving me that vibes of I have been in this shit for a very long time honestly.
I love your above mention ( Liverpool, Bayern Leverkusen and Ac Milan ) I'd want to add one more but it'll be either between As Roma versus Brighton.
The game between Benfica and Rangers Dicey you see, but these Portuguese are so stubborn at home and I would tell rangers to take the good use of the chances they have.
Same goes with Sporting Lisbon versus Atalanta. These are games too difficult for me to give a comment, I'd rather skip. David Moyes did good last season,as he went ahead to win the Conference Cup, against German Bundesliga Side, he has to go harder or he'll go homee.