Soccer star Ronaldinho led Barcelona to the Champions League title last season. (llouis Gene/Getty Images)

The list is long, but it includes Real Madrid, Liverpool, AC Milan, Bayern Munich and Manchester United.

Ever since 1955, the biggest and best teams in the world have won European soccer's annual Champions League, the most important club tournament in the sport.

Dwarfed only by the World Cup and Euro in importance and prestige, the Champions League – and its forerunner the European Cup – has drawn the champions and the very best teams from all across Europe into a single, winner-take-all, super tournament for more than 50 years.

Talk about a smorgasbord of soccer!

Last year, Brazilian superstar Ronaldinho led Spanish champions FC Barcelona to victory over London-based team Arsenal in the final in Paris.

The 2006-07 tournament kicks off on Tuesday with several pressing questions on the minds of soccer fans around the world…

Can Barcelona repeat as champions? Can AC Milan build on the momentum of Italy's World Cup victory and win its seventh European title? Can Olympique Lyon bring the championship back to France for the first time since 1993?

CBC Sports Online tries to offer some answers with this comprehensive breakdown of the teams and players to watch on the road to finals next May in Athens.

THE FAVOURITES

FC Barcelona (Spain)
2005-06 result: Champions
Best result: Champions (1992 and 2006)
No team has ever successfully repeated as Champions League winners but Barcelona could make history this year. The reigning Spanish league champions still have the core of last year's Champions League winning team (playmakers Ronaldinho and Deco, defender Carlos Puyol and striker Samuel Eto'o) and added versatile Italian defender Gianluca Zambrotta and experienced forward Eidur Gudjohnsen in the off-season. Look for Argentine ace Lionel Messi, considered by many as the next Maradona, to have a breakout campaign after struggling with injury last season.
Key player: Ronaldinho – The Brazilian maestro is a two-time world player of the year and is a marvel to watch, especially the way he undresses defenders with his deft ball control and amazing moves.

Chelsea (England)
2005-06 result: Second round
Best result: Semifinals (2004 and 2005)
After the London-based super-club crashed out early last year, billionaire owner Roman Abramovich opened his wallet (yet again) and bought AC Milan star Andriy Shevchenko, who just happens to be the Champions League's all-time leading scorer. The reigning two-time English champions also signed German playmaker Michael Ballack on a free transfer, and traded William Gallas to Arsenal for English defender Ashley Cole. These new additions, along with the list of superstars already on the team's roster, make Chelsea one of the top contenders for the title.
Key player: Andriy Shevchenko – He is one of the most dangerous strikers in the world, but the Ukrainian will have a point to prove after his 30-million pound transfer from AC Milan.

Inter Milan (Italy)
2005-06 result: Quarter-finals

Best result: Champions (1964 and 1965) Inter Milan has been knocking on the door of the Champions League final the last few seasons, but this could be the year they finally break it down. Inter made several big signings in the summer – most notably French midfielder Patrick Vieira and Swedish forward Zlatan Ibrahimovic – and have emerged as the flag-bearers of Italian soccer in the aftermath of the Juventus match-fixing scandal. Inter's greatest strength (depth) is also its biggest weakness, as coach Roberto Mancini still struggles to come up with a consistent starting lineup.
Key player: Patrick Vieira – After a fairly successful season at Juventus, the Frenchman heads to Inter Milan where he is expected to serve as the midfield lynchpin alongside Luis Figo.

Olympique Lyon (France)
2005-06 result: Quarter-finals
Best result: Quarter-finals (2004, 2005 and 2006)
Lyon cruised through the early rounds the last two seasons only to stumble in the quarter-finals. This year will be different for the five-time French champions. Strikers Sidney Govou and Sylvain Wiltord give Lyon a solid 1-2 scoring punch, while Claudio Cacapa marshals one of the best defensive units in Europe. Brazilian Juninho, the team's heart and soul, will be aided in midfield by newcomers Kim Kallstrom and Alou Diarra. Gregory Coupet is one of the best goalkeepers in the world and will steal some wins for Lyon with his athletic shot-stopping ability.
Key player: Juninho – Not only is he the best free kick specialist in soccer (yes, even better than David Beckham), but the Brazilian is a gifted playmaker who orchestrates Lyon's attack with his silky smooth passing skills.

ON THE RISE

The addition of Italian World Cup hero Fabio Cannavaro, right, has bolstered Real Madrid's defence corps. (Philippe Desmazes/Getty Images)

Real Madrid (Spain)
2005-06 result: Second round
Best result: Champions (1956, 1957, 1958, 1959, 1960, 1966, 1998, 2000 and 2002) The nine-time European champions crashed out in the second round last year, ushering in major changes this past off-season. In came Italian coach Fabio Capello, who has a proven track record of success. Real's longstanding defensive problems have finally been addressed with the signing of central defender Fabio Cannavaro and midfielder Emerson. Expect Brazilian youngster Robinho and new Dutch striker Ruud van Nistelrooy to carry the goal-scoring load for a rejuvenated Real team that is hungry to reassert itself as a European soccer superpower.
Key player: Fabio Cannavaro – With all due respect, Cannavaro should have been named the MVP of the 2006 World Cup. The Italian is, without question, the best defender in the world, a reputation he earned for his sound defensive positioning and his astute reading of the game.

Bayern Munich (Germany)
2005-06 result: Second round
Best result: Champions (1974, 1975, 1976 and 2001)
Bayern has won two straight German league titles but suffered early exits the last two years in the Champions League. Look for the Bavarian club to go on a long run this time around. Yes, Bayern did lose Michael Ballack to Chelsea, but they signed talented Dutchman Mark van Bommel to take his place. Belgian centre-back Daniel Van Buyten, another newcomer, joins a miserly defence, and Calgary-born midfielder Owen Hargreaves is playing the best soccer of his career. Keep an eye out for Lukas Podolski, a 21-year-old striker the club inked this past summer.
Key player: Lukas Podalski – The German forward was named the best young player at the 2006 World Cup (beating out Portugal's Cristiano Ronaldo and Wayne Rooney of England) after scoring three goals for his country.

ON A SLIDE

AC Milan (Italy)
2005-06 result: Semifinals
Best result: Champions (1963, 1969, 1989, 1990, 1994 and 2003)
AC Milan have come oh-so-close to winning the Champions League the past two seasons, reaching the finals in 2004 and the semifinals in 2005. It's hard to see Milan reaching the final four this year, though, as they made few off-season moves. Preventing goals will be a problem for the Italians who have an aging defence (captain Paolo Maldini is 38) and a shaky goalkeeper (Dida). Star striker Andriy Shevchenko was sold to Chelsea (replacement Ricardo Oliveira is overrated), while Dutch defender Jaap Stam and Swiss midfielder Johann Vogel also left town.
Key Player: Alberto Gilardino – With Shevchenko gone, it'll be up to the Italian hit man to lead the goal-scoring charge for Milan

FC Porto (Portugal)
2005-06 result: First round
Best result: Champions (1987 and 2004)
This is not the same Porto that won the 2004 Champions League title under the guidance of Jose Mourinho. The Portuguese have lost their way ever since Mourinho split for England – they didn't even make it out of the first round last year. Aside from Ricardo Quaresma, Porto has a real dearth of creative players who can break a game wide open. Porto's defence is suspect, as is its collection of forwards – the club inexplicably sold its best player, striker Benni McCarthy, in the off-season. With McCarthy gone, it's hard to see where the goals are going to come from.
Key player: Ricardo Quaresma – The speedy Portuguese winger is renowned for his probing runs down the flanks and his stunning dribbling skills. One of European soccer's brightest young stars.

THE DARK HORSES

Valencia (Spain)
2005-06 result: Did not qualify
Best result: Finalist (2000 and 2001)
Valencia are back in the Champions League following a two-year absence. After finishing third in the Spanish league last season, Valencia made some major moves during the summer, selling Argentine playmaker Pablo Aimar and signing Spanish winger Joaquin, former Real Madrid star Fernando Morientes and Italian striker Francesco Tavano. Expect a lot of goals out of this trio. Valencia already had an impenetrable defence with veterans Roberto Ayala and Carlos Marchena - adding Asier Del Horno will make the Spanish outfit even more difficult to score against.
Key player: David Villa – The young striker scored an amazing 25 goals during the Spanish league season last year. Set to play in his first Champions League, Villa will cause opposing defenders plenty of headaches.

Liverpool's hopes rest squarely on the capable shoulders of midfielder Steven Gerrard. (Phil Cole/Getty Images)

Liverpool (England)
2005-06 result: Second round
Best result: Champions (1977, 1978, 1981, 1984 and 2005)
Underestimate Liverpool at your own peril. The likes of Juventus, Chelsea and AC Milan did and they all lost to Liverpool two years ago as the English club went on to win its fifth European crown. Liverpool is an enigma – it struggles to beat lowly teams in the English Premiership, but always manages to elevate its game in the Champions League. This is a credit to coach Rafa Benitiz, an astute tactician who always inspires his players to play over their heads. Anfield, Liverpool's home stadium, is one of the most intimidating places for opposing teams to visit.
Key player: Steven Gerrard – Quite simply, one of the best midfielders in the world. Gerrard plays with so much heart, emotion and conviction. He runs the engine room of Liverpool's attack with his brilliant play and is an inspirational team leader.

ANALYSIS

The first round of the tournament looks pretty straightforward as the majority of the eight groups have at least two teams that are clear favourites to progress. There shouldn't be too many upsets in the opening round, but don't be too surprised if the Italian teams struggle a bit – Italy's domestic league only kicked off the first week of September, meaning the Italian clubs are a bit rusty compared to teams from France, Germany, Spain and England.

No team has ever repeated as Champions League winners but you have to like FC Barcelona's chances of defending its title. Barcelona boasts a roster teaming with superstars and they're bristling with confidence after winning their second straight Spanish league and their first European title in 14 years last season.

This year's field includes a pair of newcomers (Levski Sofia and Copenhagen), some teams that are making their return after a bit of an absence (Bordeaux, Steaua Bucharest and Galatasaray to name a few) and clubs that, quite frankly, are fortunate to even be competing in the tournament (Celtic, Anderlecht, Spartak Moscow and Shakhtar Donetsk).

With that in mind, you can expect one of the Champions League stalwarts (Barcelona, Real Madrid, Bayern Munich, AC Milan, Liverpool) to win it. Experience counts for so much in this tournament – especially once the knockout portion of the competition begins – and the clubs that have regularly participated in the Champions League are better equipped.

The absence of Turin-based giants Juventus, stripped of its place in the Champions League as a result of the Italian match-fixing scandal, is a notable one. Juventus is one of Europe's biggest clubs and is a perennial Champions League contender. With Juventus out of the way, it could ease the way for French league title holders Lyon or Chelsea, the reigning English champions, to reach the finals.