Here are the winning chance of each team to become a champion in the next season:
60% for Real Madrid
39% for Manchester City
1% for Arsenal, Inter, Milan, Barcelona, PSG, Bayern Munich, Leverkusen etc.

Real Madrid without Mbappe can still become a champion in this season, so it's no doubt majority of people will believe in Real Madrid.
I believe Real Madrid than any other team when it comes to champion league and I believe they can still win the champion League this season, Real Madrid without Mbape could still win the champion League and now that Mbape has joined the team what are we expecting from them, we can’t expect Real Madrid to lose or without getting to champion league final round for the champions league, Real Madrid will be a nightmare for every team in the champion league this coming season because no any team that will want to face Real Madrid, although I know we are talking about football and anything can happen but when a team has a good squad the team is expected to be strong and play very well.
I want to include 5 clubs that are favored to win the UCL trophy next season: Man City, Madrid, Liverpool, Arsenal and Barcelona. Meanwhile, Bayern Munich has not been able to confirm the squad that will be overhauled so it is still too early for Kompany to win the UCL trophy. Leverkusen certainly has many people who have made this club a new favorite, with an impressive one season performance but personally I still don't expect much from Xabi Alonso first season in the UCL and PSG after Mbappe departure this club's goal collection will drop drastically and have an impact on performance team as a whole so there is no guarantee that PSG can advance further, even the semifinals will be too difficult.