( CNN ) -- Perhaps the most frightening scenario facing Manchester United is that however bad this season has been , it could get a whole lot worse . Embarrassed by great rival Liverpool on Sunday , light years behind in the race for the English Premier League title and on the cusp of European humiliation , it has been a year to forget for those so used to success . Since Alex Ferguson stepped aside after winning the club 's 20th league title , his replacement David Moyes has presided over one of the most painful periods in the club 's recent history . On Wednesday , the nadir awaits -- the possibility of exiting the Champions League at the last-16 stage to Greek side Olympiakos . Without a massive turnaround in domestic fortunes , the three-time European champion will not qualify for the continent 's top club competition next season unless it wins this year 's edition -- a task which looks improbable given recent performances . Not since 1995-96 has United failed to qualify for the Champions League -- but that reality could soon come to fruition . Olympiakos will arrive at Old Trafford in confident mood after winning the first leg 2-0 , according to the visiting team 's adviser Christian Karembeu . Karembeu , who won the Champions League on two occasions as a player with Real Madrid , says the runaway Greek Super League leader is relishing the opportunity of causing a big upset . `` The first victory was a revolution and everyone was talking about us and it made a big impact , '' the 1998 World Cup winner told CNN . `` For us it is already a big step we have made and we are proud of what we 've done . `` I used to tell the team that nothing is easy and it 's not done yet because it 's going to be tough at Old Trafford . `` It 's going to be dangerous but we have to focus on what we 've done , what we can do better , and hopefully we can repeat those performances . '' United , which has won all three home matches in this year 's Champions League , lost in the round of 16 last season after being beaten at Old Trafford by Real Madrid . Olympiakos is aiming to make the last eight for the first time since 1999 , and with the domestic title already wrapped up , a foray into the later stages of the Champions League would provide some extra end-of-season excitement . Not that Karembeu is getting ahead of himself -- Olympiakos has never won at Old Trafford and managed just one away victory in qualifying for the knockout stage . `` Manchester United is a big , famous club but that was only the first battle , '' the former France international said . `` The foundation and philosophy is still there but it 's normal there are many changes . `` Hopefully United will stay like that but I think they 'll come back again . ''
Manchester United faces Champions League exit . The Premier League's top four clubs are all in the Europa League, with Arsenal and Chelsea also playing at home to German opposition. Christian Karembeu backs Greek side 's chances . United unlikely to qualify for next year 's competition .