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Despite being one of the traditional ‘big three’ of English football, Arsenal have never won the UEFA Champions League. The closest they have come was in 2006, when they lost out to FC Barcelona in the final. Having slowly but surely developed a title-contending team in England and in Europe, Mikel Arteta stands on the brink of what feels like a now-or-never season. Can Arsenal win the UCL now?

According to the bookmakers, they currently sit as second favourites to win the tournament:

• BetVictor rates the chances of a Gunners win 2/1
• BetMGM provide the same odds, with 2/1 odds

So, it looks like the established and new bookmakers generally favour the idea of Arsenal winning the UCL at last. Given they’ve seen London rivals Chelsea win the title twice – and even arch rivals Tottenham Hotspur make the final in 2019 – since they last reached a final, this really does feel like a season that needs to end in silverware. Why are Arsenal such potential favourites to go all the way, though?

The Case For An Arsenal Champions League Win

With hundreds of millions spent and a squad built in his own image, Arteta really has no excuse not to go all the way. Thanks to a draw that has put them on the ‘easy’ side of the bracket – a semi-final against Atletico Madrid awaits, rather than a tie against current holders Paris Saint-Germain or perpetual contenders FC Bayern Munich – there really is little reason why Arsenal can’t win it.

Atletico are clearly a very good team. However, with odds of 15/2 (BetMGM) and 7/1 (BetVictor),, they are by far and away the remaining outsiders. Los Colchoneros have failed to build a title challenge in La Liga, and outside of a Copa del Rey final this weekend, they have little else to focus on. Given they put out FC Barcelona to even reach this phase – with a shocking 2-0 win in Barcelona – they aren’t an easy out.

However, the argument would be two-fold. For one, they play a similar style to Arsenal: obstinate, set-piece-focused and generally quite aggressive. We often see in football that when two teams with similar styles and identities come up against one another, it can come down to budgets more than a stylistic victory. Arsenal also have the kind of defensive grit that could, in theory, wear down a PSG or Bayern in the final.

The Case Against An Arsenal Champions League Win

Really, though, the case against Arsenal winning the UCL is simple: they’ve tended to lose the big games in recent years. Despite the money spent and the team built as he demands, Arteta’s sole trophy win came in his first season with the club – the FA Cup six years ago. He’s yet to show any meaningful ability to go all the way, with a collection of big game defeats domestically and abroad.

Given their recent wobbles, too, Arsenal aren’t exactly in form. Scraping past outsiders Sporting Clube de Portugal in the quarters, mixed in with losses to Bournemouth, Southampton, and Manchester City – which decimated their hopes of a domestic treble – mixed with an away game to City that could swing the Premier League in the direction of City, means that Arsenal aren’t in winning form, are they?

By the time they go to Atletico for the first leg, they could be in second spot in the league and on a miserable run of form. With PSG and Bayern looking like the two best teams in Europe, it’s hard to put Arsenal ahead of either on form, performances, or recent trophy-winning nous.