By Matt Majendie BBC Sport Online

It may be scant consolation but, if history is anything to go by, Real Madrid will not lift this year's European Cup.

The Spanish giants have not taken back-to-back titles since clinching five in a row from 1956 to 1960 and since 1998 have only triumphed every other year.

But few in Europe would side with history as the defending champions and 4-1 favourites embark on their Champions League campaign this week.

Real lived up to that favourites' tag last season, lifting the title courtesy of a Zinedine Zidane wonder volley against Bayer Leverkusen.

Real crowned European champions

And, depressingly for their leading European rivals, they should be even more potent in attack having lured Brazilian striker Ronaldo from Serie A.

Wenger thinks his Arsenal side can win it

In fact, all the signs point to Real being capable of emulating their quintet of consecutive European crowns in the days of Alfredo di Stefano and Ferenc Puskas.

The Spanish side, going for an unprecedented 10th European Cup, boast a phenomenal line-up.

In goal is Spanish international Iker Casillas, who is kept company at the back by captain Fernando Hierro, Michel Salgado, Ivan Helguera and Roberto Carlos.

Their midfield includes Luis Figo, Claude Makele and Flavio Conceicao, and, up front, Ronaldo and Raul look likely to spearhead their European campaign.

Add to that substitutes of the calibre of Steve McManaman, Santiago Solari and Fernando Morientes and it becomes difficult to find a flaw aside from the obvious weight of expectation.

According to the bookmakers, this year's major threat is expected to come from England with Manchester United and Arsenal the second and third favourites respectively.

On current form, United lack the fluency and consistency of previous campaigns and not even the lure of the final being played at Old Trafford can support their case.

But they ought to at least qualify from a group including a Michael Ballack-less Bayer Leverkusen, Olympiakos and Maccabi Haifa.

Arsenal look the side most likely to threaten Real's hegemony.

They remain the dominant side in English football and, on manager Arsene Wenger's insistence, could match and even better Real.

They look a far more rounded outfit than the team that recorded convincing wins against Juventus and eventual finalists Bayer Leverkusen before bowing out.

Ballack will boost Bayern's chances

Liverpool pose another British threat while Newcastle's need to rescue their Premiership campaign could cancel out their European ambitions.

Germany have enjoyed European Cup glory twice in the last six seasons - with Borussia Dortmund in 1997 and Bayern Munich two years ago.

Borussia are not likely to pose a threat and Ballack's move from Leverkusen to Bayern should hinder the former and, in theory, act as a European springboard for Bayern.

Italian clubs' outings in the Champions League have made for depressing reading since Juventus' efforts earlier in the nineties.

This year, Juve, Roma and the two Milan clubs, with a string of fresh faces, all have the calibre to win but potentially lack the focus for a full campaign.

Real's other major obstacles, of course, come from their home rivals Barcelona, Valencia and Deportivo la Coruna.

On current form, though, all the signs point to Real once more.