Carlo Ancelotti has named his favourites to win the Champions League(Image: Photo by Toru Hanai/Getty Images)

Carlo Ancelotti has named his favourites to win the UEFA Champions League this season. The Brazil boss, who won the competition five times as a manager and twice as a player, has been watching from the stands this season as he gears up for the World Cup next year.

Arsenal have enjoyed an excellent start to the campaign, winning each of their first three games. The Gunners began by cruising past Athletic Bilbao at the San Mames Stadium before defeating Olympiacos at the Emirates Stadium.

The north London outfit upped the ante when they locked horns with Atletico Madrid, putting four past Diego Simeone's side. As it stands, Arsenal are one of five teams to have won each of their opening matches.

The Gunners are also just one of two clubs to have not yet conceded. Meanwhile, Chelsea have won six points from a possible nine, enjoying wins over Benfica and Ajax at Stamford Bridge after losing to Bayern Munich at the Allianz Arena.

Arsenal knock up to 60% off...