Liverpool topped last season's new-look 36-team Swiss-style Champions League group but then drew PSG in the first knockout round, losing on penalties to the eventual winner of the tournament.
That perhaps shows that performing well at this stage of the competition is not necessarily vital for going all the way, but the Reds will want to avoid having to play two extra games in the new year and can do so by finishing inside the top eight places.
Today, at 5pm UK time (12pm ET), Liverpool will find out who it will be facing over the next few weeks, with its eight opponents — all from outside of the Premier League— set to be determined.
Every club will be drawn against two from each pot. Which teams are in which pot, though? And what are the best and worst case scenarios that Arne Slot's side could face? Liverpool.com has taken a look...
Pot One: PSG, Real Madrid, Man City, Bayern, Liverpool, Inter, Chelsea, Borussia Dortmund, Barcelona.
Verdict: Borussia Dortmund looks to be quite easily the easiest team to face here, and an away trip to see the Yellow Wall would be appealing. Aside from that, the likes of PSG, Barcelona and Real Madrid would be preferable at Anfield.
Pot Two: Arsenal, Leverkusen, Atletico, Benfica, Atalanta, Villarreal, Juventus, Eintracht Frankfurt, Club Brugge.
Verdict: Liverpool would be the favorite to beat any of these teams. It would be better to avoid playing Bayer Leverkusen on the basis of mixing things up from last year, but the German side has since been weakened a lot. Juventus is not the team is once was either.
Pot Three: Tottenham, PSV, Ajax, Napoli, Sporting, Olympiacos, Slavia Prague, Bodo/Glimt, Marseille.
Verdict: Napoli is definitely the team to avoid here. A trip to Norway to play Bodo/Glimt would be nice, while Liverpool should be able to beat PSV, Ajax or Sporting if it needs to.
Pot Four: Copenhagen, Monaco, Galatasaray, Union SG, Qarabag, Athletic Club, Newcastle, Pafos, Kairat Almaty.
This article contains affiliate links, we will receive a commission on any sales we generate from it. Learn more
Verdict: Athletic Club would be tricky and AS Monaco would be better to avoid. Qarabag, and a really long trip to Azerbaijan, would be best to avoid too. Liverpool comfortably beat Union SG not that long ago in the Europa League.
The first game will be between 16–18 September, with the second between 30 September and 1 October. Matchday three is 21/22 October, with two rounds in November: 4/5 and 25/26.
The final matchday before Christmas is 9/10 December and then there are two rounds in January: 20/21 and 28. The final is at the end of May in Budapest, Hungary.
Best case draw: Borussia Dortmund (H), Inter (A), Villarreal (H), Club Brugge (A), Olympiacos (H), Slavia Prague (A), Copenhagen (H), Union SG (A).
Worst case draw: Real Madrid (H), PSG (A), Juventus (H), Atletico (A), Sporting (H), Napoli (A), Athletic Club (H), Qarabag (A).