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.
I think other teams are just small enough that it's only name by example. Like yeah Barcelona is named there, but nobody really thinks that they could win it, if you check their squad you will see that they are not good at all, they are just there to say "and 1% for all other teams" nothing more, and their name is famous so they used that name.
Otherwise, we all know that it is going to be either Real or City, it would be a huge shock to the world if these both teams fail to win it, imagine who could beat one of these teams? Not saying that it is impossible, just saying that it is not going to be something that we can assume that easily, it is going to be quite rare and unlikely without a doubt. That is why they are nearly 100% both together, it's listed as 99% but that is only because they can't say 100% technically speaking, but it's equal chances of some non-football team to win FA cup as well, not likely.
City is looking great, and they won four premier leagues in a row, and had treble previous season, so they are given a good chance, and could do it. But look at Real, my god they are powerful, they already won it and they added Mbappe to that team, so they are going to be near impossible to stop.