What time is Champions League draw and how does it work? TV channel, live stream, Liverpool dates

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Liverpool is about to discover its rivals in the league phase of the Champions League.

The Reds are one of a record six Premier League sides in UEFA's top club competition this season, up from the usual four due to the strong performances of English teams in European competition and Tottenham Hotspur's victory in the Europa League. As a result, Liverpool will be joined by Arsenal, Manchester City, Chelsea and Newcastle, plus Spurs.

An English team hasn't lifted the Champions League trophy since Man City in 2023, while the Reds last won it in 2019. Last season, Arne Slot's side went out to eventual champions Paris Saint-Germain in the round of 16.

However, after winning the Premier League title last season, Liverpool is one of the favorites to go all the way to final, scheduled to take place at the Puskas Arena in Budapest, Hungary on Saturday, May 30. Here's everything you need to know about how to watch the draw and when the matches will be held....

When is the Champions League draw?

The draw will take place in Monaco on Thursday, 28 August, starting at 12 p.m. ET.

How to watch the Champions League draw

UEFA will provide a live stream on their website and YouTube channels. The draw can also be watched on Paramount+.

Paris Saint-Germain beat Liverpool on penalties in the Champions League round of 16

How does the league phase work?

The main competition will once again kick off with the revamped league phase, where 36 teams will each play eight matches, split evenly between home and away games. The top eight teams will advance directly to the last 16, while those finishing ninth to 24th will compete in a play-off round for the remaining spots.

Teams are prohibited from playing against another team from their own country and can't face more than two teams from any one nation in the league phase.