Manchester City have been drawn against Real Madrid in the semi-finals of the Champions League, while Atletico Madrid will take on Bayern Munich.

The Citizens have been rewarded for reaching their first ever semi-final in Europe’s premier club competition with a tie against the 10- time winners, with the first leg set to take place at the Etihad Stadium on either April 26 or 27, before the return match at the Bernabeu one week later.

City, who defeated Paris Saint-Germain 3-2 on aggregate to reach the semi-finals, have a poor record against the Spanish capital giants, as they could only manage a 1-1 draw at home and 3-2 defeat away when the two teams met in the group stages of the competition in 2012.

The match-up will also see City boss Manuel Pellegrini return to his old club, as he spent the 2009-10 campaign in charge of the La Liga powerhouses, although he could not secure a major honour during his time in Madrid.

The other semi-final will see El Atleti take on Munich in a repeat of the 1974 final, which the German side won 4-0 after a replay.

Both teams have reached the final of the competition in recent years, with Bayern defeating Borussia Dortmund 2-1 in the 2013 final, while Atleti lost the showpiece event 12 months later to Real Madrid.

The first-leg will be played at the Vicente Calderon, while the return match at Allianz-Arena will take place the following week.

Bayern Munich are the 2.50 favourites to win the competition, while Real Madrid are on offer at 3.00, Atletico Madrid at 4.33 and Manchester City the outsiders at 7.50.