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Paul Merson has predicted how the English sides will get on in the competition, while also giving his verdict on the Premier League title race.
Arsenal fans have practically been calling for the season to be declared null and void due to Liverpool's so-called luck.
In other news, the Gunners face PSV this week, while Liverpool travels to PSG as a reward for topping the league phase of the Champions League.
But Arne Slot won't waste any time complaining.
He predicts Arsenal's lack of attacking firepower could once again prove costly against PSV, and has called upon Mikel Arteta to play Raheem Sterling up front instead of Mikel Merino.
Even then, the pundit believes that Champions League glory is a long way off for Arsenal
In fact, despite essentially writing off Arteta's chances of catching Liverpool, he still thinks that winning the Premier League is a more realistic prospect than European success.
"The title race is gone and this is their season now but even after this, they're right up against it," Merson admitted
It's probably easier to win the league and they're 13 points behind."
Arsenal's destiny in the Champions League at least remains in its own hands, so Arteta would disagree that the Premier League offers a better chance of glory
But Merson has highlighted the tough journey that lies ahead, even if the Gunners can squeeze past PSV; a season that promised so much is in danger of fizzling out entirely.
Liverpool, for its part, is also well aware that the Champions League will be very tough
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