1. Chelsea
    (5-1-1 vs. Domestic League / 2-0-0 vs. Champions League)

After another summer of big signings (swelling the payroll to 276 million USD in the last three years), their players have now recovered from a slight World Cup hangover. Much criticized centre forward Didier Drogba is netting goals by the bagful (five so far). Chelsea is setting the pace, and a scalding one at that. The real scary part is that the Chelsea express still has to reach top gear. (Can the real Andriy Shevchenko please show up?)

  1. Barcelona (4-1-0 / 1-1-0)

The new UNICEF logo adorning their jerseys is enough to make any Barca player smile. But the only smile that counts is the one that graces Ronaldinho. After shrugging aside a disastrous World Cup, he’s back ambling freely around the pitch like no other. The Brazilian has Spain’s top side playing the neat one-touch futbol that won them the Champions League last season. But the loss of striker Samuel Eto’o may be a bit much to overcome.

  1. Lyon
    (7-1-0 / 2-0-0)

“No one player is bigger than the team,” and no team epitomizes that statement more than this French team (much unlike their national squad). While they suffer having lost their brightest young player for the third straight season, Lyon somehow manages to come out unfazed. Doubters of the team were silenced after Lyon’s 2-0 demolition job over Real Madrid.
4. Valencia
(4-1-0 / 2-0-0)

Those who caught the Barcelona vs. Valencia match this season would agree that this team is equally good, if not better than, the defending Spanish Champions at the moment. Big wins in both their domestic league and the Champions ensure this club’s position in the top half of the ranking table.

  1. Bayern Munich
    (3-1-2 / 2-0-0)

Their prized player left without bringing them a penny for his transfer (while he makes 130,000 pounds a week). They fought tooth and nail to retain Owen Hargreaves, but when all was said and done he left and the player received in turn ended up injured. With all the drama, one would expect the mighty Bavarian club to struggle this season. However, Bayern’s young German players seem to have matured earlier than expected (the German success at the World Cup must be highlighted) and the club can dare to think big once again.

  1. Manchester United
    (5-1-1 / 2-0-0)

Not the power they used to be in England, but with two very special and gifted players in Wayne Rooney and Christian Ronaldo turning 22 this year, the only way for this club is up. Doubts linger over whether they can stay healthy for a whole season, however.

  1. Arsenal
    (3-2-1 / 2-0-0)

While the new stadium’s kinks have been worked out, the Gunners are still out to prove they can play their brand of futbol against teams the likes of Manchester United away at Old Trafford. A finalist in last year’s Champions League, the team can no longer hide under the “rebuilding” excuse. Arsenal needs to prove they can compete on both domestic and European fronts.

  1. Real Madrid (3-2-0 / 1-0-1)

Money has been spent like crazy, and the team continues to under-perform. What else is new? The good news is time will be an asset for the club, giving world-class striker Ruud van Nistelrooy a chance to acclimate and allowing manager Fabio Capello to aim for realistic goals, like working as a team.

  1. AS Roma
    (5-4-1 / 1-0-1)

Surprise, surprise-the club is actually doing well! All they need now is to keep Totti healthy and not overworked. Good luck.

  1. Inter Milan (3-2-0 / 0-0-2)

Inter is still celebrating their courtroom victory of the Scudetto, but the team must understand the need to perform outside Italy. The club spent enough money to field two quality squads, and as the record shows, that is exactly how they are performing. While they are atop the Calcio Serie A, this is clearly not the league packed with quality of yesteryear.

  1. C Milan
    (3-2-0 / 2-1-0)

They were docked eight points to start the season, the goal machine of years past is now gone, and the back line is as old as ever. Still, this team remains Italy’s best hope for European silverware. That said, the entire club’s hopes lies squarely on the shoulders of Kaka.

  1. Liverpool
    (3-1-3 / 1-1-0)

Well, they aren’t doing well again domestically-but the last time they did that, they won the Champions League. Go figure.

On the bubble:
PSV Eindhoven (4-1-1 / 1-1-0), CSKA Moscow ( 0-0-0 / 1-1-0), Celtic (7-1-1 / 1-1-0), Lille (4-3-1 / 0-0-2) and Sporting Lisbon (0-0-0 / 1-1-0).