So the tournament has been split in half - 16 teams are out, and 16 teams remain, as the first winner of the expanded 32-team FIFA Club World Cup looks to be crowned this summer in the U.S.
There were some shocking exits in the group stage, including European heavyweights Atletico Madrid and FC Porto - both of which saw Brazilian clubs advance ahead, Palmeiras and Botafogo. Lackluster performances played roles in those exits, but top individual performances have carried teams to incredible results, too.
For Palmeiras, starlet Estevao has dazzled, even though he hasn't scored yet. Set to join Chelsea after the tournament, he's become a must-watch. The Blues themselves, meanwhile, have seen new forward Liam Delap break out, while starting striker Nicolas Jackson let them down after another costly red card.
For Atletico, star forward Julian Alvarez misfired across the group stage. The same goes for LAFC and striker Olivier Giroud - who will be an LAFC striker no more.
In the most storybook performance of the opening round, legendary Argentine winger Angel Di Maria carried Benfica into the knockouts with three goals - coming in his last competition for the club before returning to Argentina.
GOAL US takes looks at whose stock is up, and whose stock is down, entering the CWC knockouts.
