Champions League: Man United handed Ronaldo date

Cristiano Ronaldo and Sir Alex Ferguson will be reunited in February

Cristiano Ronaldo and Jose Mourinho head back to England, while Arsenal must prepare to face Bayern Munich...

Manchester United and Arsenal's Champions League odds have both drifted considerably after being handed Real Madrid and Bayern Munich in the round-of-16.

It will be the third time that Sir Alex Ferguson and Jose Mourinho have pitted wits this early in the competition after Manchester United exited to Porto in 2003/04 then conquered Inter in 2008/09, and also paves the way for Cristiano Ronaldo's first return to Old Trafford.

Real Madrid remain second favourites for the trophy but have drifted from 4.84/1 to 5.85/1 while the Premier League leaders' movement is even more dramatic, all the way out from 12.011/1 to 16.5n/a.

Arsenal meanwhile have been blasted out from 34.033/1 before Steve McManaman's ball juggling in Nyon this morning to 46.045/1 after being force-fed Bayern Munich, who have won 13 out of 17 in the Bundesliga this term and scored 12 times in their three Champions League home games.

It leaves Arsene Wenger with cause to curse their concession of top spot in Group B to Schalke, who were handed the tournament's rank outsiders Galatasaray whereas the Gunners must face its 8.415/2 third favourites.

Celtic weren't dealt with too generously either, being paired with Chelsea-conquering Serie A table-toppers Juventus, though as there was potential for them to draw Barcelona, Borussia Dortmund or Manchester United, it arguably could have been worse. The Bhoys are 160.0159/1 to go the distance.

The standout tie besides those involving the British clubs is the one between 3.259/4 favourites Barcelona and the second most successful side in European Cup history, AC Milan.

The Rossoneri are improving after a struggle to adapt to great summer upheaval and drew two of four meetings with Barca last season, yet are a massive 130.0129/1 to add to their seven prior Champions League triumphs at Wembley in May.

Borussia Dortmund v Shakhtar is a tantalising prospect between two of the most entertaining teams in this edition, while the other encounters throw Valencia against Paris St-Germain and Porto against Malaga. Bizarrely, all eight clashes are identical to those conjured up in Wednesday's rehearsal.

With four entrants - and three of them favoured to progress to the quarter-finals - Spain are 1.834/5 favourites to provide the 2012/13 winners.

The draw:
Galatasaray v Schalke
Celtic v Juventus
Arsenal v Bayern Munich
Shakhtar v Borussia Dortmund
AC Milan v Barcelona
Real Madrid v Manchester United
Valencia v Paris St-Germain
Porto v Malaga