Bayern Munich will face Arsenal, Manchester United and Atletico Madrid in this season’s Champions League league phase.The German champions face a tough path to the knockout rounds, having also been drawn against Real Betis, Bodo/Glimt, Lille, Slavia Praha and Norwegian champions Viking.Last year, Bayern were defeated 6-5 on aggregate in the semi-finals by eventual winners Paris Saint-Germain. They lost the first leg at the Parc des Princes 5-4, in what will be remembered as one of the great matches of modern European football, and could only draw 1-1 in the second leg at home. It was a bitter way to end.Bayern knocked Real Madrid out in the round before and looked every inch a Champions League winner in the process, only to give a strangely off-colour performance in that return against PSG — letting the chance of a final at their Allianz Arena home slip through their fingers.Harry Kane remains in wonderful form. So do Michael Olise and Luis Diaz. The door is still open for Bayern to win their first title since 2020, but they must capitalise during this period.Who are Bayern’s opponents?*Dates and times of matches to be confirmed by UEFA.Which game most excites you?Atletico Madrid at the Metropolitano looks fascinating.It’s too early in the season to know exactly what Atletico are and, of course, the Julian Alvarez situation needs resolving sooner rather than later, but the environment itself will make that a bellwether fixture and a true indication of what Bayern are going to be during this European campaign.Which game worries you?Arsenal at Allianz Arena does not worry me, but clearly Mikel Arteta has built a highly resilient side capable of beating anyone, anywhere.In addition, Bayern’s set-piece defending in recent years has not been the best — Manuel Neuer has had some ropey moments from corners, too — and Nicolas Jover, the Premier League champions’ set-piece coach, is presumably already locked away in a cupboard, plotting thousands of routines to take on that trip to Bavaria.What is Kompany’s biggest issue to confront in the tournament?Jamal Musiala’s career is going through an uncertain period, following the revelation that he is being treated for a neurological condition which saw him faint in successive pre-season friendlies. Musiala is training again, but will not be included in this weekend’s Bundesliga opener against Stuttgart, and his return date remains unclear. Bayern will need him back in good form if they are to contend.Depth is a concern. Bayern made good moves over the summer, signing versatile full-back Nathaniel Brown from Eintracht Frankfurt and Moroccan forward Ismael Saibari from PSV. Both will add to the squad, but keeping Kane, Olise and Upamecano fit will be crucial, as none of those three has replacements capable of the same contribution.Which team do Bayern most want to avoid in the latter stages?PSG and Arsenal for obvious reasons, but Real Madrid are probably on that list, too. Not that they were short of talent before, but the addition of Yan Diomande — should he do well — would add another terrifyingly dynamic wide-forward at Bayern’s full-backs.The signing of Brown improves them in that area, with Alphonso Davies continuing to look brittle, but they lack the world-class talent in either position to be really secure against the very best.Can Bayern put the disappointment of last season’s Champions League semi-final loss behind them? (Stuart Franklin/Getty Images)What would be considered a successful finish?A semi-final appearance would still be par. Bayern’s ambition will be to win the competition, as it is every year, and that’s a realistic aim. Nevertheless, there’s a recognition that PSG are still more gifted and slick and that Arsenal are more physically imposing, and that Bayern would need some luck to go their way to get past either.A semi-final will be fine; anything less would be a disappointment.Prediction time. How far will Bayern get?The final.Yes, it’s a shot in the dark, because who knows how the knockout rounds will ultimately look and which teams Bayern will be able to avoid, but their summer additions give me confidence. Brown is interesting, because his capacity to push into midfield and invert opens up new tactical possibilities for Vincent Kompany. Saibari is another similarly versatile attacker who should fit what is already a fluid system extremely well; he’s made to play as one of Kompany’s twin No 10s.Watch out for Tom Bischof, too. Last year, his first season since joining from Hoffenheim, had promising moments, but this is the season when he and his wonderful left foot really establish themselves in European football. Add in a developing Lennart Karl, a (hopefully) fit again Davies and Bayern look stronger.