Manchester City are the new favourites to win the Champions League after Paris Saint-Germain were drawn with Real Madrid.
City landed an ideal draw - against Swiss side Basel - but there was no doubting the most mouthwatering tie with the pre-draw favourites PSG matched with holders Real.
PSG are now third favourites at 5/1 with Real Madrid pushed out to 8/1 fifth favourites.
Bayern Munich, who drew Beskitas, are the new second favourites having been chopped into 9/2.
Of the five English sides in the draw, Chelsea landed the plum - and most difficult - tie. They will face Barcelona and will be at home in the first leg.
Barca are fourth favourites in the revamped market at 15/2, while Chelsea are now regarded as the least-likely English winners at 28/1.
Manchester City are now favourites to win the Champions League
As for the other English teams, Tottenham face a tough task against last season's beaten finalists Juventus, but, like City, Manchester United and Liverpool will likely be happy with their opponents.
Jose Mourinho's United must tackle Spanish side Sevilla, while Liverpool will head to Portugal to take on Porto.
The first legs will take place on February 13-14 & 20-21; the second legs are slated for March 6-7 & 13-14. Exact dates for each fixture will be published later today.
Full Champions League last-16 draw
Juventus v Tottenham
Basel v Manchester City
Porto v Liverpool
Sevilla v Manchester United
Real Madrid v Paris Saint-Germain
Shakhtar Donetsk v Roma
Chelsea v Barcelona
Bayern Munich v Besiktas