PSG will probably have a problem with match fitness. I don't know how they will prepare but most of other teams will be in perfect condition going into the CL games.
Even if PSG manages to play some friendly games, it will still be hard to reach the same level as their opponents. Considering it's a one-legged contest, there is no room for mistakes or extra preparations.
That's defnitely going to be a disadvantage for PSG. On the other hand you could argue that their players will be well rested after almost 5 months without any official matches
I think Bayern and Leipzig have the best time schedule for the Champions League tournament in August. They had competition practice in the Bundesliga, still had time to give their players some days off for holiday and can now focus completely on the preparation for the remaining UCL matches. That's why I see Bayern as a big favourite to get the title this season.
Bayern is one the main favorites for CL title, but one should not leave out some other teams as well, primarily City, that is in great form at the end of Premier league
i would call for Atalanta as well, they are underdogs, but great team in great form
Leipzig does not have a team that could get the title, it is too much for them, IMO
Don't forget Real, Barcelona and Juventus.
All this clubs have a lot experience in CL and excellent players which can take responsibility and make difference in such important matches.
Barcelona and Juve didn't play well in the last matches but CL is something completely different, new beginning and new competition.
All clubs will start from zero and all clubs have chance.
Of course, Real is in the most difficult situation but still have chance and I'm sure they didn't give up.