A study by the CIES Football Observatory has identified Real Madrid as the club most likely to win the Champions League.

The study looked at three particular performance indicators -- Experience; Squad Stability and Transfer Policy -- before comparing with those of the last five winners: Inter Milan (2010); Barcelona (2011); Chelsea (2012); Bayern (2013); Real Madrid (2014).

In Squad Stability, the last five Champions League winners had players who were present in the first team squad for 3.5 years on average. Only Barcelona (4.00) and Real Madrid (3.83) came in over the average, while while Bayern (3.41) and Juventus (3.15) both came close.