The Gunners face a 40% chance of being paired against either the Blaugrana or Real Madrid in Monday's draw.

 Once the final whistle came down on Arsenal’s clash with Olympiakos in the Champions League, exuberance burst among the Gunners fans, as the north London giants went from starring down at a group stage exit to booking their spot in the round of 16.

Arsene Wenger’s crew needed to win by a 2-goal difference or better the 3-2 score line from their previous meeting at the Emirates Stadium in order to leapfrog the Greek giants. 

Thanks to an Olivier Giroud hat-trick though, progression was easily secured, as Arsenal won 3-0 to finish second in their group, behind leaders Bayern Munich.

However, it didn’t take long for Arsenal fans to realize that with 3 out of the 8 group winners being Chelsea, Manchester City, and Pep Guardiola’s crew, the FA Cup holders hold a 40% chance of facing either Real Madrid or Barcelona in the knock-out phase.

Arsenal's possible opponents in the UCL last 16

Arsenal, Real Madrid, Barcelona, Atletico Madrid, Wolfsburg, Zenit, UEFA Champions League

With the draw for the next round set for Monday, Arsenal midfielder Mathieu Flamini singled out the Champions League holders as the one side they are keen on avoiding.

"We obviously don’t want Barcelona as they are a top team but for the rest, we will see," said the 31-year-old.

 

Arsenal fans were exuberant to make the UCL last 16. Details: http://bit.ly/1SOXqqtBut look which teams await the Gunners in the knock out stage. Do they stand a chance?

Posted by LiveSoccerTV.com on Wednesday, December 9, 2015

The Frenchman, however, took last year’s exit at the hands of Monaco as a perfect lesson that no matter whomever Arsenal will be drawn against, no team should be underestimated.

“We played Monaco last year and we thought it would maybe a bit easier and it was not the case.

"So whoever we play, we will give 100 per cent."

Arsenal and Barcelona locked horns in consecutive seasons from 2009 to 2011, albeit the first encounter was a quarter-final affair.

Le Prof won on one occasion, a 2-1 victory over the Blaugrana at the Emirates in February of 2011, though their lead was overturned in the return leg, with the Catalan giants progressing at the expense of the London side in both seasons.

Furthermore, Argentine superstar Lionel Messi bagged four goals in the earlier of the Gunners’ two trips to Camp Nou.