The favorites: Lyon

Lyon have won the last four Champions Leagues and are the dominant force in European football. With Wendie Renard in defense, they have not only the most commanding defender in the world, but also a legitimate goal threat. The French international defender has scored 115 goals since her debut for Lyon almost 15 years ago. Anything short of lifting the trophy will be considered a failure.

The outsiders: Glasgow City

The Scottish outfit are unique in that they are the only part-time team left in the tournament and will have their work cut out when they face Wolfsburg in Bilbao in the opener on Friday. While they have won 13 straight Scottish titles and have been untouchable domestically, Rangers and Celtic have just gone professional this year and will be aiming to challenge the superiority of Glasgow City. The part-timers also haven't played a competitive game since March and are massive underdogs against mighty Wolfsburg.

German interest: Wolfsburg lead the charge

Lyon's main challengers are likely to come from Germany. The French side have to negotiate Bayern first and then could face Wolfsburg in the final. Spearheaded by Danish striker Pernille Harder, Wolfsburg have one of the finest strikers in the game.

Die Wölfinnen are the undisputed queens of Germany, having won four straight Bundesliga league titles, but their coach Stephan Lerch has been speaking about the problem of preparing his team for this competition, given that the format and location was only confirmed last week.

"It's a big challenge, because there's barely any time to integrate our new players and explain our tactics in detail. After all, the truth will be found on the pitch in Spain," he said.

Despite the obstacles, Wolfsburg have pedigree in this competition. They have won it twice before in 2013 and 2014 — both times under Lerch — but this will be his final season in charge. Can Wolfsburg send him out on a high?

Where and when?

The first quarterfinals will take place on August 21 and the final will be played on August 30. All games will be played at the Anoeta Stadium in San Sebastian — home of Real Sociedad — and the San Mames stadium in Bilbao, the home ground of Athletic Club.

Quarterfinals

Friday 21 August
Glasgow City vs. Wolfsburg (18:00 CET: Anoeta Stadium, San Sebastian)

Atletico Madrid vs. Barcelona (18:00 CET: San Mames Stadium, Bilbao)

Saturday 22 August
Arsenal vs. Paris Saint-Germain (20:00 CET: Anoeta Stadium, San Sebastian)

Lyon vs. Bayern Munich (20:00 CET: San Mames Stadium, Bilbao)

Semifinals

Tuesday 25 August — Glasgow City or Wolfsburg vs. Atletico or Barcelona (20:00 CET: Anoeta Stadium, San Sebastian)

Wednesday 26 August — Arsenal or PSG vs. Lyon or Bayern Munich (20:00 CET: San Mames Stadium, Bilbao)

Final

Sunday 30 August — 20:00 CET: Anoeta Stadium, San Sebastian