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From the moment that Real Madrid were confirmed as second-placed qualifiers in Group D, there was a collective shuddering from group winners across Europe as the realisation sunk in – the prize for earning top spot might just be a daunting tie against Cristiano Ronaldo and company. In the end, it was Sir Alex Ferguson, Wayne Rooney and Manchester United who drew the short straw, setting up one of the most eagerly anticipated Round of 16 ties in history in the process.

There was even a sense of inevitability about these two giants colliding, given that Ronaldo has not returned to Old Trafford since his £80M move to the Spanish capital in 2009 and fate has not paired Mourinho and Ferguson together since the Portuguese took charge at the Bernabeu (they squared off in his FC Porto and Inter Milan days as well as, of course, the frequent battle when Mourinho was running the show at Stamford Bridge). But this goes beyond the two managers. It presents a chance for Ronaldo to pit his wits against Rooney and Robin van Persie, there is plenty of history between the two clubs – dating back to the European Cup in 1957 – and both sides are driven by a burning desire to settle scores with Barcelona.

The subplots go on and on. Mourinho has been billed as the ideal replacement for Ferguson at Old Trafford when the Scot decides to walk away from the hotseat. This storyline is sure to see a lot of mileage over the weeks ahead given that this could be the final season for the Portuguese at the Bernabeu. And who could forget the dispute between the two clubs over the Ronaldo transfer saga and the venom with which Ferguson repelled Real Madrid’s advances the summer before they eventually got their man?

And that is all before the 180 minutes of action has even begun. It promises to be an enthralling contest, with both sides able to send out an array of attacking stars but neither in a position to feel confident about their defensive capabilities. Manchester United, at least, sit top of the pile domestically; Real Madrid have had a bleaker run and have watched Barcelona open up a convincing lead in pole position.

The responses from the respective camps were predictably respectful, but the intensity will likely sky rocket once February rolls round. "Ours is the tie of the round", Ferguson said. "It’s a great opportunity for our fans to see Cristiano again and also for me to meet up with Jose again – I’ll need to order some good wine!"

"I know the coaches have a great relationship", added Real Madrid director Emilio Butragueno. "Sir Alex Ferguson knows how to get the best out of his players and they have top players, but we are Real Madrid and we will try our best."

Manchester United and Real Madrid rightly grabbed the major attention as the draw unfolded, but there are plenty of other intriguing ties to look forward to when the Champions League returns in the new year. If the Red Devils were feeling aggrieved to be paired with Mourinho’s men, Arsenal will have been no happier to draw Bayern Munich, last season’s beaten finalists and the Bundesliga leaders. Arsene Wenger has steered the Gunners ship into safer waters in recent weeks but his team will be clear underdogs against a powerhouse driven by the likes of Bastian Schweinsteiger and Franck Ribery. The likely outcome is that Wenger’s trophy drought will go on.

The draw also ensured that there will be some new or somewhat surprising names in the last eight of this season’s competition. Valencia were paired with big spending Paris Saint-Germain while Porto and Malaga will slug it out in an all-Iberian Peninsula bout. Borussia Dortmund, who more than lived up to their billing in winning a group featuring Real Madrid, Manchester City and Ajax, will clash with Shakhtar Donetsk while the Schalke-Galatasaray pairing will send another unexpected qualifier into the quarter-finals. It just goes to show how much this competition has opened up.

Barcelona, though, remain firm favourites to lift the trophy in the eyes of many and will face AC Milan, bringing back memories of years gone by. While the Catalans continue to go from strength to strength, the Italians are a shadow of their former selves and should pose little threat to counter the Lionel Messi, Xavi and Andres Iniesta holy trinity. These two giants contested the 1994 Champions League final – won 4-0 by AC Milan – and a semi-final in 2006, in which Barcelona took the spoils en route to lifting the trophy. This time, it threatens to be very one-sided.

Last, but by no means least, the feel-good Celtic story will have a tough examination against Italian champions Juventus. Sneaking into the last 16 via a gutsy win in their final game, the Scots have nothing to lose and should play with freedom. As is so often the case, Andrea Pirlo’s influence on proceedings will swing the tie one way or the other. Celtic boss Neil Lennon was quick to insist that his players would not be there to make up the numbers. "This is he furthest we have progressed in this format, and it is a huge incentive for the players to eclipse that – this is their time", he explained.

The only frustration amid all the intrigue is that fans must wait until February to soak up the drama. At least that gives Ferguson time to prepare for the challenge and find the perfect bottle of wine to share with Mourinho. Just don’t expect events on the pitch to be quite so friendly.

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