Who are the favourites to win the Champions League ahead of the semi-finals?

With Real Madrid bowing out in the quarter-finals, a new champion is set to be crowned this season with Arsenal, Barcelona, Inter Milan and PSG the remaining clubs in the competition

The highest club competition in world feature is reaching the final curtain call once again as the Champions League semi-finals take place with all four clubs eyeing to take their place at the Allianz Arena in Munich next month.

Arsenal, Barcelona, Inter Milan and PSG all remain as the final four look to surpass their semi-final opponents over the next couple of weeks and seek European glory - with two clubs looking to secure the status of "Champions of Europe" for the first time in their history.

Arsenal welcome PSG who struggled in the group stages but have since looked extremely comfortably in the knockout stages including seeing off initial favourites Liverpool 4-1 on penalties before continuing their all-English run by beating Aston Villa narrowly 5-4 on aggregate in the quarter-finals too.

Meanwhile, Barcelona welcome Inter Milan in the first leg as Hansi Flick looks to secure a treble in his debut season as Barcelona boss having already secured the Copa del Rey last weekend against Real Madrid and leading La Liga table by four points over their arch-rivals with five games remaining.

Who is the favourite?

Following Liverpool's unexpected exit from the Champions League at the hands of PSG, the spotlight has shifted to a new favourite for the coveted trophy. It's no shocker that Barcelona, under the astute leadership of Hansi Flick, is now leading the pack.

Barcelona's form this season has been nothing short of remarkable. They're gunning for an impressive treble, sitting pretty at the top of La Liga, preparing for an El Clasico showdown in the Copa Del Rey final, and statistically standing as the strongest team left in the Champions League.

In the group stage, Barcelona secured second place before comfortably dispatching Benfica with a 4-1 aggregate win. Raphinha was instrumental in this success, netting two of his 11 goals in the competition during the second leg. Since then they have seen off Borussia Dortmund 5-3 on aggregate to set up their semi-final tie with Serie A champions Inter Milan.

Arsenal's Champions League hopes

As things stand, Arsenal are expected to fall short of a final appearance according to the bookies. CopyBet are pricing the Gunners at evens to secure a plane ticket to Munich next month which is narrowly behind their semi-final opponents PSG who are odds-on at 3/4 to secure only their second ever Champions League final.

As a result, Mikel Arteta's side are priced at 5/2 to lift the trophy with CopyBet but are best-priced with Paddy Power at the moment at 11/4 to go one step better than their last final appearance in 2006 and finally be crowned European champions. Other bookies including bet365, Sky Bet, William Hill and Ladbrokes are all also offering 5/2 odds.