The ultimate rematch: Real Madrid vs. Benfica headlines the Champions League playoff draw

The "balls" have spoken. At the UEFA headquarters in Nyon, the draw for the 2026 Champions League playoffs has served up a dish best served cold. Just two weeks after Real Madrid suffered a bruising 4-2 defeat in Lisbon, Álvaro Arbeloa and his squad have been handed an immediate chance for redemption—or a definitive knockout. The "Merengues" will face José Mourinho’s Benfica in a two-legged series that promises to be the most emotionally charged encounter of the round.

The narrative is cinematic. José Mourinho, the man who once "restored" Real Madrid's competitive edge in Europe, now returns to the Santiago Bernabéu as the antagonist. Benfica’s tactical masterclass in the final league match exposed Madrid's defensive frailties, with young stars like Schjelderup, Prestianni, and Sudakov running circles around Arbeloa’s backline.

Arbeloa faces a steep climb. Not only does he have to fix the tactical leaks that Pavlidis exploited so ruthlessly, but he must do so without two of his key offensive weapons: Rodrygo Goes and Raúl Asencio, both of whom are suspended for the first leg. On the other side, Benfica is getting stronger. They expect to recover Colombian star Richard Ríos from injury and have bolstered their ranks with the return of Rafa Silva and the signing of young prospect Sidney Cabral.

While the white half of Madrid heads to Lisbon, Diego Simeone’s Atlético de Madrid will travel to Belgium to face a revitalized Club Brugge. Under manager Ivan Leko, Brugge has become a "giant killer," recently holding Barcelona to a draw and dismantling Monaco.

The Belgians are a physical powerhouse. With Ordóñez anchoring the defense and the legendary Hans Vanaken pulling the strings in midfield, they are a nightmare for teams that lack intensity. Atleti will need to be wary of the pace provided by Carlos Forbs and Tzolis, who can punish even the slightest defensive lapse on the counter-attack.

Beyond the Spanish interests, the draw has forced a Ligue 1 showdown. Luis Enrique’s PSG will face AS Monaco in what is essentially a "domestic final" on the European stage. PSG finds itself on the same side of the bracket as Real Madrid, meaning the road to the final in Munich is becoming a gauntlet for the traditional heavyweights.

The first-leg matches are scheduled for February 17 and 18, with the decisive return legs on February 24 and 25. The winners will advance to the Round of 16, joining the eight clubs that have already qualified directly, including Hansi Flick’s FC Barcelona.