Real Madrid have been cut to 6/1 from 9/1 to win this year's Champions League following the signing of Fabio Cannavaro and Emerson, Ladbrokes reported yesterday.

Italy's World Cup-winning captain and his Juventus team-mate have both signed two year deals said to be worth a combined 20 million Euros to join the Spanish giants

And the Magic Sign believe Fabio Capello's first two acquisitions could be the start of a period of success following three trophyless seasons at the Bernabeu.

Spokesman Robin Hutchison said: "With Capello in charge and a host of big Italian names on the market it was inevitable that one or two would wash up in Madrid - and Cannavaro and Emerson are excellent buys.

"Whilst Barcelona and Chelsea are ahead of them in the betting, they may now put in a serious challenge if he can combine some more good signings with a clear out of the dead wood."

Reigning champs Barca and their Stamford Bridge rivals are both 7/2 joint favourites, with the latter backed by a £4,000 bet from a punter in Romford, Essex when they were 5/1 in May.

Real, under new president Ramon Calderon, are 2/1 to win the Primera League and 5/2 to win the Copa Del Ray.

LATEST BETTING

UEFA Champions League 2006/07

Barcelona 7/2
Chelsea 7/2
Real Madrid 6/1
Liverpool 10/1
Inter Milan 12/1
Lyon 12/1
Manchester Utd 12/1
Arsenal 14/1
Bayern Munich 14/1
Valencia 25/1
Werder Bremen 40/1
Hamburg 50/1
Porto 50/1
Bordeaux 66/1
Celtic 66/1
Osasuna 66/1
PSV 66/1
Ajax 80/1
Benfica 80/1
Lille 80/1
Sporting Lisbon 80/1
Galatasaray 100/1
Olympiakos 100/1
Spartak Moscow 100/1
Hearts 150/1
Valerenga 200/1
Anderlecht 250/1
Standard Liege 500/1