Image source, AFP

Real Madrid coach Carlo Ancelotti admits he will relish locking horns with Bayern Munich boss Pep Guardiola in their Champions League semi-final.

"Pep Guardiola is one of the best coaches in the world. They have a great team," Ancelotti says.

"The semi-finals against Bayern will be very difficult but it's not easy for anyone to play Real Madrid either.

"If we want to win the Champions League, we then have to beat everyone including Bayern. We were poor against Dortmund but it doesn't matter because we made it through to the semi-finals."

Chelsea chief executive Ron Gourlay confirms that the club will allow goalkeeper Thibaut Courtois, on loan at Atletico Madrid, to play against his parent club in the Champions League semi-finals.

Before the draw was made, Uefa released a statement to clarify that it expects the Belgium international to be free to face the Blues in both legs., external

"The loan was arranged back in the start of the season. He can play against Chelsea, that's never in doubt," Gourlay says.

"Regarding the Uefa statement we'll evaluate that in due course. As far as we are concerned we will comply with loan rules. He can play in both ties against Chelsea if selected. That is fact."

Sheffield United manager Nigel Clough is hoping to choose from a full-strength squad for Sunday's semi-final against Hull at Wembley.

Defenders Bob Harris (thigh) and Matt Hill (hamstring), striker Jose Baxter (hip) and midfielder Stefan Scougall (thigh) have all shaken off their respective injuries in the last week and will be available for selection.

Youngsters Connor Dimaio, Otis Khan and Louis Reed were handed starts in the midweek win against Rotherham, but are likely to make way on Sunday after Clough rested several of his senior players.

Rob Tyrrell:, external Best possible draw for Chelsea. Can we start dreaming of another final?

Yinka Akinloye:, external Jose Mourinho's love affair with the Champions League continues. I think it will be Real Madrid against Chelsea final.

Kathryn Benjamin:, external Bayern v Real Madrid is going to be awesome! Probably better than the final.

Send us your views via #bbcsportsday, external or via the BBC Sport Facebook page.

In addition to the 2012 Uefa Super Cup Chelsea met Atletico Madrid in the 2009-10 Champions League groups stage. Chelsea beat Atletico 4-0 at Stamford Bridge and drew 2-2 in the return fixture in the Spanish capital.

Image source, Getty Images

Ahead of Manchester City's key Premier League game against Liverpool on Sunday, defender Pablo Zabaleta believes the return of his club and country team-mate Sergio Aguero after a hamstring injury will be key to their title chances.

"He is an important player, he is going to score goals. He is fast, he is quick. Sometimes we need players like Sergio," he said

"Always you want the best players in the team and be fit for any game. But we know we also have important players like Dzeko, Yaya is having a great season, Silva, Nasri - we have a lot of talent in front. That is why, even without Sergio, we keep scoring goals.

"It is great for any team to have the best players back again. That is the good news."

Bayern Munich head scout Paul Breitner, the club's representative at the draw, says another treble for the German side is the target after being drawn against Real Madrid.

"Our team are in a very good situation," he says.

"We are on course for another treble and to become the first team to defend the Champions League. I look forward to the encounter with Real Madrid."

Real Madrid representative Emilio Butragueno adds: "There is a lot of confidence in the players but it will be extremely tough against Bayern. Of course I hope Real Madrid reach the final and win."

The Champions League semi-final draw sets up an interesting situation with goalkeeper Thibaut Courtois - the 21-year-old goalkeeper on loan with Atletico from Chelsea.

Image source, AFP

It was reported that Chelsea would allow the Spanish side to play the Belgian in both legs of the semi, provided they paid a fee of around 3m euros for each game.

However, before the draw was made, Uefa released a statement to clarify that it expects the Belgium international to be free to face the Blues in both legs., external

What are your views on the Champions League semi-final draw which sees Chelsea pitted against Atletico Madrid?

Jamie Hignett:, external Would NOT rule out Atletico Madrid winning this season, Courtois, Gabi, Koke and Costa are among the best in the world atm.

Adam Clowes:, external I wonder whether Mourinho will have a quiet word with Courtois about his role in the semi final if Chelsea and Athletico meet?

DonnyGee123:, external Best possible draw for Chelsea, We keep it nil nil at the Calderon but then use the power of the bridge to edge it 2-1!

Send us your views via #bbcsportsday, external or via the BBC Sport Facebook page.

Former Chelsea defender Paulo Ferreira, the club's representative at the draw, believes Atletico Madrid will be tough opponents for Jose Mourinho's side.

"I think it will be a difficult game, it will be a 50-50 chance of reaching the final for Chelsea," said the Champions League and Europa League winner.

"Atletico deserve to be there after beating Barcelona. But Chelsea have a wonderful team and a wonderful manager and they will try to do their best to reach the final."

Image source, Getty Images

Chelsea's Champions League semi-final opponents Atletico Madrid were only four points above the La Liga relegation zone when Diego Simeone became coach in December 2011. Now they are in the semi-finals of the European Cup and top of La Liga. Spanish football writer Andy West looks at the rise of one of the game's hottest managerial properties.

If Chelsea beat Atletico Madrid and qualify for the final in Lisbon on 24 May, they will be considered the away team at the Estadio Da Luz.

Bayern Munich have met Real Madrid 20 times, all in the European Cup, including five semi-finals. Bayern came out on top in 1976, 1987, 2001 and 2012, with Madrid's sole last-four victory in 2000.

The Champions League semi-final games will be played on 22/23 April and 29/30 April.

The last time Chelsea met Atletico Madrid it was an unhappy occasion for the Blues, managed then by Roberto Di Matteo, as Atletico coasted to a 4-1 win in the 2012 Uefa Super Cup, Radamel Falcao scoring a hat-trick in Monaco.

Champions League semi-finals:

Real Madrid v Bayern Munich

Atletico Madrid v Chelsea

But before the draw, we are shown some of the highlights of Lisbon which will host the final on 24 May - its famous yellow trams, splashing fountains and the Estadio Da Luz, which will host the game.

Before the draw is made former Portugal winger Luis Figo tells Uefa general secretary Gianni Infantino that Atletico Madrid are in the last four on merit.

"Of the four teams, Atletico Madrid are a surprise but they deserve to be here," he says.

So with the Europa League draw out of the way now we are onto the Champions League draw and the wait is almost over for Chelsea, Real Madrid, Atletico Madrid and Bayern Munich.

Portuguese legend Luis Figo is almost ready to make the draw in Nyon, Switzerland.

Chelsea manager Jose Mourinho might fancy drawing Atletico Madrid. Mourinho never lost a league match against Atletico while manager of Real Madrid. In his three years at the Bernabeu, he masterminded six successive La Liga victories over Real's city rivals.