( CNN ) -- Barcelona and Manchester United are on course to meet again in the money-spinning European Champions League final after they avoided each other in the draw for the last eight . Josep Guardiola 's reigning champions Barca will face English Premier League side Arsenal in the quarterfinals -- a repeat of the 2006 final which the Spanish club won 2-1 . French striker Thierry Henry played for Arsenal in that game but has since joined Barca . Henry remains Arsenal 's all-time leading goalscorer . The draw for the quarterfinals of the tournament took place at the headquarters of European football 's governing body ( UEFA ) in Nyon , Switzerland where the match-ups for the semifinals were also decided . United will win the Champions League ... I feel it in my bones . Alex Ferguson 's Manchester United were drawn against Bayern Munich , who they famously beat in the 1999 final . Bayern went in front after just six minutes of the final in Barcelona but United scored two injury time goals to stun the German side . Dutch coach Louis van Gaal is attempting to secure Bayern Munich 's first European crown since 2001 , after they knocked out Italian side Juventus in the group stages . Jose Mourinho 's Inter Milan are playing first time quarterfinalists CSKA Moscow . The Italian champions dumped Mourinho 's former club Chelsea out of the competition earlier this week . There is no country seeding at the last eight stage , which led to Lyon and Bordeaux being drawn together . Their tie means France is assured a representative in the last four . The Champions League is the most lucrative tournament in world football with the final worth an estimated $ 421 million , according to sponsors Mastercard , with the winners earning close to $ 150 million . The quarterfinal ties will take place the week beginning March 29 . In the Europa League draw English Premier League team Liverpool were drawn against Portuguese club Benfica . There is an all-Spanish tie in the last eight after Atletico Madrid and Valencia were drawn against each other . If Liverpool get past Benfica they will face one of the Spanish teams in the semifinal , meaning either an emotional return for striker Fernando Torres to former club Atletico , or for manager Rafael Benitez to the team he used to coach , Valencia . Juventus ' conquerors Fulham were drawn against German champions Wolfsburg while Hamburg pulled Belgian side Standard Liege .
Qualification for the UEFA Champions League to take place in Spain on 2019 . FC Barcelona are favorites to retain their crown . The final is worth an estimated $ 421 million in economic terms , according to sponsors . This year 's final will be held in Madrid , Spain , on May 22 .