LIVERPOOL and Chelsea will meet in the quarter-finals of this season's Champions League.

This morning's draw in Nyon paired the Reds, champions in 2005, against last season's beaten finalists.

FINAL PRIZE ... European Cup

Defending champions Manchester United will play Portuguese champions Porto, while Arsenal were paired with Spanish side Villarreal.

Barcelona will meet Bayern Munich in the other match.

Champions League quarter-final draw:

Villarreal v Arsenal

Manchester United v Porto

Liverpool v Chelsea

Barcelona v Bayern Munich

The first legs will be played on April 7/8 with the second legs on April 14/15.

Semi final draw:

Manchester United/Porto v Villarreal/Arsenal

Barcelona/Bayern Munich v Liverpool/Chelsea

The first legs will be played on April 28/29 with the second legs on May 5/6.