FA, Staff Reporter || The road to Budapest is officially set. Following a high-stakes draw at UEFA headquarters on Friday, the remaining 16 contenders in the 2025/26 UEFA Champions League now know their fate as the knockout stages loom.In what is becoming the definitive modern rivalry of European football, Real Madrid and Manchester City will face off in the knockout rounds for the fifth consecutive year. Meanwhile, defending champions Paris Saint-Germain have been handed a heavyweight clash against Chelsea, a rematch of last season's high-intensity Club World Cup final.Round of 16 FixturesThe draw has produced several "Group of Death" style matchups, with Premier League leaders Arsenal facing German giants Bayer Leverkusen.MatchupReal Madrid vs. Man CityPSG vs. ChelseaNewcastle vs. BarcelonaBayer Leverkusen vs. ArsenalAtalanta vs. Bayern MunichAtletico Madrid vs. SpursGalatasaray vs. LiverpoolBodo/Glimt vs. Sporting CPThe Road to BudapestFans won't have to wait long for the action to resume. The tournament shifts into high gear this March, culminating in the final at the Puskás Aréna on May 30.Round of 16:First Legs: March 10 & 11, 2026Second Legs: March 17 & 18, 2026Quarter-finals: April 7–8 & 14–15, 2026Semi-finals: April 28–29 & May 5–6, 2026Final: May 30, 2026 (Budapest)Editorial AnalysisThis year's draw was particularly significant due to the new League Phase format, which rewarded top-eight finishers like Arsenal and Liverpool with seeded status. However, the luck of the draw has spared no one; the bracket reveals that the winner of Real Madrid vs. Man City will likely face the winner of Atalanta vs. Bayern Munich in a brutal path to the semi-finals.For Bodo/Glimt, the first team from the Arctic Circle to reach this stage, a tie against Sporting CP represents a genuine opportunity to reach the final eight."Every campaign shows progress, but with the path now set to Budapest, the margin for error is zero." — Joseph Terry, UEFA Correspondent