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.
Compared to Arsenal and Barcelona, I prefer Bayern Munich because even though they don't have an experienced coach, their mentality and experience have been tested enough. Leverkusen is not at that level because they are not a seeded team even though they played quite consistently last season. The Champions League is different and there are many clubs that might be favored but ultimately fail to advance to the next round.
PSG cannot be underestimated even though Mbappe is no longer playing there because PSG's game next season will be much more solid because they don't have to think about one person. Luis Enrique is one of the coaches who has the ability to bring PSG to play better and I'm sure they will be much better than last season.