The Confederations Cup has established its place on the calendar as a dry run for the following year's World Cup, and this year's tournament will, therefore, take place in Russia.
The champions of each of the six regional federations, plus hosts Russia and World Cup holders Germany have been split into two groups of four, with the top two teams from each group progressing to the semi-finals.
The competition hasn't previously acted as a good guide to the identity of the next World Cup winner given that none of the teams who have previously lifted the trophy have gone on to secure the main prize a year later. But it nevertheless provides a solid idea as to how teams from different continents match up, a year removed from the World Cup.
Also read: 5 reasons to look forward to the Confederations Cup
Results over the last couple of years suggest that hosts Russia are unlikely to be serious contenders. Here, then, are the five teams who should be considered the favourites to lift the trophy in Saint Petersburg on 2nd July.
Germany
Germany are viewed as the competition favourites by the majority of bookmakers even though Joachim Low has elected to take an experimental squad to the tournament. The World Cup holders will take part in the Confederations Cup for the third time and will hope to go one better than their trip to the semi-finals in their last appearance back in 2005.
Flexibility is highly treasured by Low, and his search for new solutions continues with a squad that omits experienced campaigners such as Manuel Neuer, Thomas Muller and Toni Kroos. Youth abounds and there are plenty of players who will be keen to make a strong impression in both training and the matches ahead of next year's World Cup.
Even without some of their established stars, it is still a strong Germany squad and one that is certainly capable of going all the way.
Portugal
Portugal are making their Confederations Cup debut on the back of their first triumph in a major international competition at Euro 2016. They seem keen to make a strong impression with an experienced squad that features very few changes from the one that tasted success in France last summer.
Fernando Santos is likely to stick to his tried and tested counter-attacking template, with a solid back-line, athletic midfield and swift attackers capable of breaking forward at pace and laying on chances for primary goalscorer Cristiano Ronaldo. They were not the most aesthetically pleasing side at the European Championship but they got the job done.
Portugal can be expected to progress from their group and will then seek to keep things tight from the semi-finals onwards and hope enough marginal things go their way to lead them to glory.
Chile
Chile had never won a major international trophy prior to their success in the 2015 Copa America, but they now seem to have developed somewhat of a winning habit. That triumph was followed by victory in the anniversary Copa America Centenario in 2016 and they then lifted the inaugural China Cup in a four-team tournament in January.
Juan Antonio Pizzi has a pretty much full-strength squad at his disposal. The high-profile exclusions of Jorge Valdivia and Matias Fernandez are of his choosing, and the golden generation of Alexis Sanchez, Arturo Vidal, Claudio Bravo et al are otherwise all present.
Chile have only faced two European sides and just four in total from outside the Americas since the 2014 World Cup, making their current level a little hard to pin down. But they are an experienced side with a well-defined style of play and decisive players in key positions. They look the most likely non-European winners.
Mexico
Mexico won the Confederations Cup back in 1999 and are the only previous winners in this year's field. They have a packed summer, with a couple of World Cup qualifiers prior to the tournament and the Gold Cup to come afterwards, but it seems coach Juan Carlos Osorio is keen to use the first-choice squad to go all out for victory in Russia.
Osorio is in the process of constructing an attractive, flexible and well-drilled side and is making good progress a year out from the next World Cup. Mexico have largely impressed under his command, although the memory of their crushing 0-7 loss to Chile in last year's Copa America Centenario still maintains a menacing background presence.
They might not have quite enough about them just yet to go all the way, but Mexico can be expected to progress from their group and from there they'd only be two wins away from glory.
Cameroon
Cameroon were the surprise winners of the Africa Cup of Nations in February. That triumph represented their first silverware in 15 years and secured them a place at the Confederations Cup, where they were runners-up in their last appearance back in 2002.
Hugo Broos became Cameroon's head coach in February 2016 after applying for the position online. A year later, the former Belgian international defender led them to success in the Africa Cup of Nations with a strong defensive platform and sufficient attacking potency to drive them past Senegal, Ghana and Egypt on route to lifting the trophy.
The large majority of that squad are back for this summer's tournament. Although it will be very difficult for them to progress from a group that features both Chile and Germany, Cameroon are nevertheless the most likely of the remaining teams to cause an upset in Russia.
