Panathinaikos
CSKAPanathinaikos enter this tie as the clear favorites on paper, but the previous round exposed a team still far from its peak. The Greek side scraped past Hungarian opponents, needing a late comeback to avoid elimination. CSKA, on the other hand, squeezed through only after a penalty shootout against a modest Slovakian side. The question is whether the hosts can live up to the billing and build a comfortable cushion before the return leg in Bulgaria.
Jacob Niestrup’s Panathinaikos began their European campaign with a hard-fought passage through the second qualifying round of the UEFA Conference League. They eliminated Hungarian side Paksi with a 4‑3 aggregate victory, but the second leg was particularly dramatic. Trailing until the 85th minute, the Greens snatched a late equaliser to keep their hopes alive. While the team found the net in both official matches, the defense remains a work in progress – even a modest Hungarian club managed to score three times across the two legs.
The pre‑season friendlies painted a similarly mixed picture. Panathinaikos thrashed Helmond (4‑0), Grasshoppers (3‑0) and even beat Ajax (3‑1), but then suffered a heavy 4‑1 defeat to Rapid, once again exposing defensive frailties. The arrival of the Danish coach has brought a tactical overhaul, with constant rotation and new signings like Stefan de Vrey and Anass Zaroury still adapting to the system. Since the Greek league has not yet started, the team has been able to focus entirely on Europe, preparing specifically for each opponent. The only notable absentee is Davide Calabria, who is injured – but the Greeks managed without the experienced Italian in the previous round anyway.
CSKA’s path through the second qualifying round was even more laborious. Both legs against Slovakian side Spartak Trnava ended in goalless draws, leaving the tie to be decided on penalties. The Bulgarian side held their nerve, winning 5‑3 from the spot. That outcome perfectly illustrates the team’s approach to European football: ultra‑cautious, desperate to deny opponents space, and willing to rely on defensive solidity.
In the domestic league, however, CSKA look completely different. After three rounds they have seven points, scoring six goals but conceding four. They have found the net in every match, but have also conceded in each one. A few days ago they beat Arda 2‑1, arriving at this difficult away fixture in good spirits. Yet against Panathinaikos, they will need to raise their intensity to a much higher level. The key for the Bulgarians will be to withstand the home side’s pressure and avoid conceding early – because if they are forced to open up, they could face serious problems.
Panathinaikos (4‑3‑3): Penya – Tsapras, de Vrey, Touba, Kyriakopoulos – Yagushich, Kamara, Gnezda‑Cerin – Zaroury, Tette, Andino Out: Ingason, Calabria (injuries) Head coach: Jacob Niestrup
CSKA (4‑4‑2): Marinov – Grivich, Hoffmann, Iliev, Soltani – Tarasenko, Vitanov, Krebs, Rusev – Tsonev, Diallo Out: Couto (injury) Head coach: Aleksandar Alexandrov
The match will be officiated by Italian referee Matteo Marchetti. A highly experienced Serie A official, Marchetti averaged 3.46 yellow cards per game in Italy’s top flight last season. He has handled one Conference League match so far, in which he showed five yellow cards and recorded 25 fouls.
Main prediction: The Greek side are the clear favourites in this tie and should confirm that status already in the first leg. Panathinaikos boast a more talented squad, and playing at home gives them an extra edge. CSKA, by contrast, struggled enormously to get past Spartak Trnava, needing penalties to advance. In the Bulgarian league they regularly concede goals, and the level of opposition there is significantly lower. Panathinaikos themselves are not yet rock‑solid at the back, but their attacking potential is far superior. Given the hosts’ class advantage, the support of their fans, and greater international experience, we recommend backing Panathinaikos to win with a handicap of -1.5 goals at odds of 1.80.
Bet on goals: Despite Panathinaikos’ favourite status, a bet on both teams to score looks promising. The Greeks have not exactly been tight at the back – three goals conceded in two matches against Paksi, and four against Rapid in a friendly, show that the defensive rebuild is not yet complete. At the same time, they create chances and have scored in every official match this season. CSKA also find the net in every league game, and in their first three matches they have conceded four times. The Bulgarian side can exploit the hosts’ defensive issues on fast transitions and set pieces, especially if Panathinaikos are forced to play on the front foot. Therefore, a bet on both teams to score – Yes at 2.25 is well worth considering.
Panathinaikos4-3-3
CSKA4-4-2Panathinaikos are massive favorites here, and that usually means they come out swinging from the whistle. No reason to think they’ll ease into it—they’ll want to bury the game early. First half goals are on the cards. Simple as that.
Panathinaikos are massive favorites here, and that usually means they come out swinging from the whistle. No reason to think they’ll ease into it—they’ll want to bury the game early. First half goals are on the cards. Simple as that.
The match takes place on 5 August 2026 at 19:30 at Panathinaikos' home ground in Athens.
Panathinaikos are the clear favorites on paper, with a more talented squad and home advantage.
The main prediction is Panathinaikos to win with a handicap of -1.5 goals at odds of 1.80. A bet on both teams to score (Yes) at 2.25 is also suggested.
Panathinaikos are without Ingason and Calabria due to injuries. CSKA are missing Couto.
Panathinaikos narrowly beat Paksi 4-3 on aggregate but conceded three goals, showing defensive issues. CSKA needed penalties to eliminate Spartak Trnava after two goalless draws, though they have scored in every domestic league game.
Italian referee Matteo Marchetti will officiate. He averaged 3.46 yellow cards per game in Serie A last season and showed five yellows in his only Conference League match.