Grant is aware the Greek side won both home and away against German side Werder Bremen.

He said: "Olympiacos did well in the group stage. They won against Werder Bremen home and away and Lazio, so it is not an easy game.

"They are a good team. On paper we have a good chance but first we need to qualify for the next round and then speak about it."

Olympiacos boss Takis Lemonis admitted his players face a tough draw after being paired with Chelsea in the last 16.

The Greek champions finished second in Group C behind Real Madrid and now face the team with the best defensive record in the competition.

But Lemonis believes it is far too early to read anything into the sides' current form.

"The draw is a very difficult one, as it would have been with any other opponent," he said.

"It's much too early to judge how the games will go because we have two months before these matches. A lot of things will be judged better when we see what situation we and Chelsea are in at the time. We knew that whichever team we faced at this stage would provide a very difficult challenge.

"At this level there is no good or bad draw. We hope that we will be in a good situation when the time comes."