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Xabi Alonso’s side have endured a frustrating spell, beginning with a 1-0 defeat to Liverpool on matchday four of the competition. That loss has been followed by two La Liga draws, a goalless stalemate against Rayo Vallecano and a dramatic 2-2 result away to newly promoted Elche.

Despite their recent struggles, Real remain top of La Liga, holding a narrow one-point advantage over Barcelona. However, their performances have dipped, and the trip to the Karaiskakis Stadium represents another stern test.

The defeat at Anfield raised concerns, with Madrid offering little threat against a Liverpool side that had themselves been short on confidence.

Olympiacos are still searching for their first win of the Champions League campaign. Although they sit top of the Greek Super League, their European form has not matched their domestic success under José Luis Mendilibar. Missed opportunities in early home matches against Pafos and PSV have left their qualification hopes hanging in the balance.

Real Madrid remain well placed to challenge for a top eight finish in the Champions League, but their 100 per cent European record ended in disappointing fashion on Merseyside earlier this month. Since then, they have struggled for rhythm, creating few clear cut chances against Rayo before showing flashes of attacking quality against Elche, but failing to see the game out.

Alonso experimented with a back three in that match, with Trent Alexander-Arnold making his first start since August on the right.

The England international delivered a series of dangerous corners, but came under scrutiny defensively after being outmanoeuvred by Aleix Febas in the build-up to Elche’s opening goal.

With both sides in need of points for very different reasons, Wednesday’s clash in Athens is shaping up to be a pivotal moment in their Champions League campaigns.