Just over four months after Arsenal stunned Barcelona in the Women's Champions League final to win their second European crown, the most prestigious club competition in the women's game is back this week, with the Gunners partaking in perhaps the most eye-catching fixture of matchday one as they prepare for a clash with eight-time winners Lyon, in a rematch of last season's semi-final.

The UWCL has a different look this year, having moved to mirror the men's edition by adopting a league phase rather than a group phase, and it will feature some new teams as well, with Manchester United and OH Leuven both making debuts in the main portion of the competition. Atletico Madrid, too, return to this stage for the first time since the UWCL moved away from a straight knockout format in 2021.

They join the likes of Chelsea, Barcelona, Bayern Munich, Juventus, Paris Saint-Germain, Real Madrid and more in a campaign packed full of eye-catching clashes, not least the rematch of last season's other semi-final, between Chelsea and Barca, which will take place next month.

So, as the action prepares to begin, what should you be keeping an eye on in the 2025-26 Women's Champions League? Let GOAL walk you through the big talking points…

Getty ImagesArsenal's change of role

After causing a serious upset in the Champions League final back in May, Arsenal will go into this campaign with an entirely different status. Last time around, they were so often an underdog. This time, they are the holders. It carries a greater weight of expectation for a team that hasn't often been a favourite in Europe or even in England in recent years, because of Chelsea's dominance of the domestic game. How will the Gunners cope with that?

It's not been an easy start to the season for Renee Slegers' side, who many would've had high hopes for in the Women's Super League title race given their European triumph. Arsenal have already dropped points in three of their first five games, leaving them five behind leaders Chelsea. They'll need to improve quickly, too, because their UWCL defence starts with a bang, as they host eight-time winners Lyon on Tuesday evening in a rematch of last season's thrilling semi-final.

AdvertisementGetty ImagesA vulnerable Barcelona

One of the stories of the summer came in Barcelona, where financial restraints that have proved a concern to various sections of the club over the last few years finally made a telling impact on the women's team. Champions League finalists in each of the last five seasons, winning three of those, the Catalans have been the team to beat on the continent for several years now but the likelihood of rivals doing so certainly feels like it has increased over the last few months.

That's because Barca's squad decreased massively in size during the transfer window, owing to the one incoming and four outgoings in the first-team squad, plus the departures of another seven youth prospects, some of whom could've been in line to make the step up. It leaves a squad of 18 senior players ahead of the Champions League's return, one much smaller than the likes of Chelsea and Lyon.

Of course, the flip side is that Barca still have one of the best XIs in the world, featuring six players who just made the top 13 in the Ballon d'Or voting, and a thriving academy which it has now dipped into for some added depth. What happens if there are a couple of key injuries, though? Can those young players develop into difference makers? And will the squad have enough to maintain the club's usual charge across four competitions?

Getty ImagesChelsea's credentials

One of the main teams looking to pounce on any potential vulnerability from Barca will be Chelsea, who have so often been eliminated by the Catalans over the years. After being beaten 4-0 by them in the 2021 UWCL final, the Blues have lost in the semi-finals to Barca in each of the last three seasons, last year by a damning 8-2 aggregate scoreline.

Interestingly, the league phase draw has thrown up a clash between these two sides in November, in what will be their first one-legged meeting since that final over four years ago. It could prove to be a great litmus test for Chelsea's Champions League title credentials this time around and a chance for them to regain some psychological ground in what has been an incredibly one-sided head-to-head.

After all, the Blues are definitely one of the main contenders for this season's trophy, as they have been for a while now. But have they got what it takes to make that final, and most difficult, step to get their hands on the silverware for the first time?

Getty ImagesA rejuvenated Lyon

Another incredibly interesting contender for this UWCL title is Lyon, the eight-time winners having had a terrific summer. Jonatan Giraldez, who guided Barca to two European triumphs in his three years in charge, has taken over in the dugout for the French giants, while the transfers made have been extremely eye-catching.

In have come Marie-Antoinette Katoto, PSG's all-time top scorer and one of the deadliest strikers on the planet; Jule Brand, who had a terrific Euro 2025 with Germany to remind everyone of her potential; Lily Yohannes, the United States international and one of the most exciting teenagers in the game; and Ingrid Engen, who had one of the best seasons of her career under Giraldez at Barca, among others.

With experienced stars such as Eugenie Le Sommer, Amel Majri and Dzsenifer Marozsan going out the other door, all of whom played crucial roles in the club's ascension to the very top of the European game, it has been a big summer of change and there may be some teething pains as a result. However, it does feel like an exciting transition for the most successful team in UWCL history, as they pursue a record-extending ninth title.