Champions League last 16 draw:

Chelsea v Juventus
Villarreal v Panathinaikos
Sporting Lisbon v Bayern Munich
Atletico Madrid v Porto
Lyon v Barcelona
Real Madrid v Liverpool
Arsenal v Roma
Inter Milan v Manchester United

Ties to be played on February 24 and 25 and March 10 and 11

Last year's beaten Champions League finalists Chelsea face a mouth-watering reunion with former manager Claudio Ranieri after being paired with Juventus in the final 16 of this year's competition.

Ranieri guided Chelsea to the semi-finals of the competition in 2004 but made way for Jose Mourinho at Stamford Bridge later that year.

Chelsea secretary David Barnard was pleased with the draw as the Blues look to go one better than last year's runners-up finish.

Barnard told Sky Sports News: "Any team at this stage of the competition is obviously quality but it could have been a lot worse, maybe Barcelona.

"It obviously brings back Claudio Ranieri to the Bridge and I am sure Claudio will get a good reception from the Chelsea supporters.

"In Claudio's last season we actually reached the semi-finals and the Champions League means a lot to him and Chelsea."

Meanwhile Arsenal take on Roma. Danny Fiszman, Arsenal's major shareholder and a director at the club, felt the Gunners had received a kind draw.

He hopes, with the final also being in Rome, the club can look forward to two visits to the Italian capital.

Fiszman told Sky Sports News: "I think it is a good draw for us. We have stayed away from the favourite of the moment and we have also stayed away from Panathinaikos, which meant a long trip.

"We have a good record against Roma, we are pleased with the draw.

"I think it is the old cliche, there isn't an easy game, but it is an exciting draw, exciting for the fans.

"Our fans will have the chance to go to Rome and hopefully we will do it twice."

Away from the capital, Mourinho's Italian giants Inter Milan will host European champions Manchester United in an intriguing tie while Liverpool must travel to nine-times winners Real Madrid, a club repeatedly linked with Reds boss Rafael Benitez.

Mourinho enjoyed success at Old Trafford during his time as Porto boss and then developed a strong rivalry with United boss Sir Alex Ferguson after moving to Chelsea.

Manchester United's communications director Phil Townsend said the draw was a good one for the Old Trafford club and offered the chance to gain revenge on Mourinho, five years on from their loss against his Porto side at the same stage of the competition.

"It's a very exciting draw. We've only met Inter once before in the Champions League and we got through then, and maybe it's a good omen because it was in 1999 and we ended up winning the tournament," he said.

"We'll be trying to put one over on Jose this time and get the result the fans want and the club wants."

But Inter director Ernesto Paolillo revealed he hoped Mourinho's previous encounters against Ferguson's side will give the Italian outfit the edge across the two legs.

"Mourinho told me yesterday that he wanted Manchester United, and I think he's right," Paolillo told Sky Sports News.

"Against Manchester United we can find the right motivation and the right concentration to play a very good game.

"Mourinho is experienced in English football, and he knows United very well.

"I think that he can teach something to the players - the right way to fight - and we need that because his experience is very important for us."

There had been a possibility that United could draw Spanish champions Real, with whom tensions are high due to their pursuit of Cristiano Ronaldo.

Instead it will be Liverpool's second visit to the Spanish capital this season after playing Atletico Madrid in the group stages.

Elsewhere in the draw Villarreal will play Panathinaikos, Sporting Lisbon face Bayern Munich, Atletico Madrid take on Porto and Lyon tackle favourites Barcelona.