Valencia 1 PSG 2. The visitors hold a first leg lead heading back to France, but Valencia have a lifeline and Ibrahimovic's late red card means PSG will not be at full strength on home soil.
Dramatic end to proceedings in Valencia. Ibrahimovic will now serve a European ban. A very positive night for PSG in danger of imploding here.
Ibrahimovic has been shown a straight red card. He was heading for the corner flag. He lost the ball and then went over the top on a challenge on Guardado.
PSG will be so disappointed to have conceded late on. They have been so solid all night, but then stood there and watched Rami run off them.
GOAL VALENCIA - RAMI. Lifeline for Los Che. Finally Valencia get a free-kick delivery right, with Tino Costa whipping the ball into the six-yard box. Rami sneaks in unmarked to flick a volley past Sirigu.
Running theme here, with Guardado floating over a cross from the left. His delivery floats goalwards and into the hands of Sirigu. He clears, PSG lose the ball and Valencia come forward again.
Final change of the evening sees Armand replace Pastore.
Guardado with another cross from the left. Better this time as he goes low and picks out Valdez. His first touch is terrible and the ball runs away from him.
Guardado with time to hang over a cross. The ball spends a long time in the air and Sirigu is able to watch it all the way into his hands. He has been solid tonight.
Viera felled by Pastore. Another opportunity for Valencia to swing the ball into the box from a wide area. Tino Costa delivers once again. His curling delivery is touched away by Sirigu.
Matuidi putting a shift in, chasing everything across midfield. PSG must have some tired legs out there, they have been chasing the ball for long periods.
Final change by Valencia, with Viera thrown on in place of Feghouli. Soldado's number was shown for a moment, but was quickly changed.
Soldado rushes things again when picked out on the edge of the box. Difference between the two sides has been composure in and around the final third.
PSG keep the ball for more than a couple of passes. Ibrahimovic then gives it away again. He hasn't offered enough at times. Valencia counter, but find no way through.
PSG now leaving Ibrahimovic up front and pulling everyone else back. They are now looking to take what they have. Understandable.
Ibrahimovic caught offside. PSG can't get on the ball, but Valencia can't make them pay. Alex does miss a clearance this time, but fortune favours PSG as the ball drops to Jallet.
Tino Costa with a very ambitious effort from 40 yards out. Alex stands firm and gets his head in the way. Valencia try again, with Canales hooking a high cross to the back post. Hopeful more than anything else from the hosts.
Verratti down again. Tino Costa with yet another foul. PSG in no hurry to take the free-kick. Guardado then does well to get Valencia moving forward again, but his cross is over-hit.
Alex able to nod clear above Valdez. PSG need to keep their shape and concentration. There have been a couple of moments in the last few minutes where they have left holes at the back.
Lavezzi on his way off for PSG. Menez takes to the field in his place. Like-for-like swap.
Great chance for Valdez goes begging. Tino Costa picks him out inside the box. He spins past Alex, but then fires into the side-netting. He should have been looking across goal.
Valencia now caught inside their own half. They appear to be running out of ideas. PSG's game plan has worked perfectly.
Free-kick to PSG some 35 yards from goal. Ibrahimovic fancies his chances. He takes a long run up, before hammering the ball high into the stands. Not his best.
Dangerous delivery into the PSG box. Soldado attacks it, but Alex and Sakho crowd him out and Sirigu remains untested.
PSG have the ball in the net, but it won't count. Flag up. Ibrahimovic should have scored, but saw his effort blocked by Guaita. The loose ball fell to Chantome who stuck it away, but he was offside.
Ibrahimovic can't run the ball over halfway. Valencia then give the ball straight back to PSG. Matuidi felled by Tino Costa as he looks to get into Los Che territory.
Feghouli lashes a difficult volley high over the top. Valencia able to peg PSG back inside their own half, but the visitors win a throw and run down the clock a little more.
Canales sees the ball run under his boot. PSG break, but Lavezzi has moved too early this time and is flagged offside. Looking at the replays, he was onside. Valencia playing a very high line.
Verratti wins another free-kick, this time off Tino Costa. PSG doing a great job of breaking things up and frustrating the home side.
Nicely worked by Valencia as they go wide to Pereira. Rather than cross he finds Feghouli in space. He is inside the box, but never gets his head up and crosses straight into the arms of Sirigu.
Canales and Parejo combine in midfield, but Matuidi spots the danger early. PSG counter yet again. Guaita comes to meet Ibrahimovic and just about does enough, dropping on a loose ball at the second attempt.
Lavezzi causing problems again. This time his snap-shot on the turn is blocked by Rami. Matuidi tries his luck from a little further out, but never troubles Guaita.
Canales with a clever pass fed in towards Valdez. He had to put plenty on the pass though and it skids off the turf and behind for a goal kick.
Verratti goes down and will require treatment. He was caught on the back of the leg by a challenge from Valdez. He soon bounces back to his feet and finds Lavezzi. This time he fires at Guaita when presented with another sight of goal. PSG should be out of sight.
Tino Costa with a misplaced pass this time. Valencia still trying to force the issue at times. They need to stay calm and try to move PSG about.
Great vision from Tino Costa as he spots a run from Soldado. He picks the striker out, but in reaching to drag the ball out of the air he can't bring it into his stride. PSG counter at pace and Lavezzi spurns a great chance to make it three. He bundles wide from in front of goal as Guaita palms an Ibrahimovic shot into his path.
Strong challenge from Guardado, but he did rather dive in on Chantome. No card, but PSG can take a moment to slow things down. Their long free-kick falls to Chantome, who is prepared to go backwards.
Lavezzi stronger than Ricardo Costa. He twists and turns by the dead-ball line, before hooking over a cross. Pastore is lurking by the back post, but the ball drifts behind.
Room for Guardado wide on the left wing, but the pass from Canales towards him is poor and offers him no chance of keeping the ball in play.
PSG counter. Valencia are stretched for a moment, but Pereira then dives in on Lavezzi and they can regroup. Free-kick to PSG wide on their left. Maxwell takes, but finds the head of Ricardo Costa.
Feghouli whips a cross in early to the front post. Soldado can't get a touch, but the ball breaks to Tino Costa, who forces another corner. He takes himself, but goes low again and PSG can hack clear.
Chantome's first involvement sees him foul Guardado. Free-kick to Valencia wide on their left. Delivery is fed low to a run from the edge of the box. Whistle goes immediately, with Soldado blocking off his man.
Lucas has run his race and is replaced by Chantome. Ancelotti looking to get fresh legs into his side. Shame, as Lucas had looked lively.
Valdez gets a head to the delivery, and the ball loops towards the top corner. Sirigu forced to palm behind. Tino Costa goes deep with his set-piece this time. Soldado has pulled off the back post, but the delivery has too much on it and he can only nod well wide.
Plenty of space down the left for Canales. He teases a cross into the box, which Sirigu meets with a flying punch. Valencia still pressing and force a corner. Tino Costa over it. His delivery is poor and is cleared at the near post. Pereira drives the ball back, and wins another corner.
Valdez into the box and almost in on goal. His shot is blocked by Verratti and the flag has gone up anyway. PSG unable to relieve the pressure as Lucas knocks the ball out for a Valencia throw.
More frustration for the hosts as Feghouli tries to burst past Maxwell, but ends up knocking the ball too far ahead of himself. To be fair to the home support, they have stuck with their side.
Canales gives the ball away on the left flank. Ibrahimovic unable to make the most of the opportunity as he runs out of play. Los Che looking to force the issue now.
Feghouli caught by a full-blooded challenge from Matuidi. Fair tackle, but a tough one. Valencia still seeing plenty of the ball. PSG still sitting deep.
Sniff of goal for Canales as a cross from the right is allowed to bounce inside the box. Jallet does really well to stick out a leg and prod the ball to safety.
Valencia have gone with two up top now, with Valdez supporting Soldado. Los Che had no choice as they have to get at least one back to stand any chance in Paris.
PSG get the second half underway.
Valencia changes at half-time. Canales and Valdez on in place of Banega and Jonas.
Players back with us and we are ready for the off once more. Can Valencia haul themselves back into the tie?
Darren says: "I knew it would be hard for Valencia tonight, even at home. Could see PSG going far in the competition, possibly falling at the semi's?"
Remember you can also bet in-play at Skybet.com. Valencia are now 20/1 to win this game, with PSG 1/10 and the draw 7/1. You can get 5/1 on Ibrahimovic getting the next goal.
How do you see the second half going? Is there any way back into this for Valencia? Get your thoughts in to Chris.Burton@bskyb.com or @SkySportsChrisB.
Valencia 0 PSG 2. The visitors hold a commanding lead at the interval. PSG have looked very solid. Valencia have to offer much more in the final third.
Tino Costa's delivery from the set-piece is nodded behind by Pastore for a corner. Valencia take the set-piece short. Odd decision as Feghouli is closed down immediately. Pastore concedes another corner. Costa delivers into the box this time, but can't beat the first man.
Pereira wins a free-kick off Pastore down by the PSG corner flag. Needless from Pastore. He stuck out a leg when the ball was running behind anyway.
Two minutes of stoppage-time to be played.
Costa can't pick out a run from Soldado. PSG look so tight at the back. Valencia have seen so much of the ball, but have done little with it. They have been caught out twice at the back and find themselves two goals down.
PSG now have two away goals and Valencia have it all to do. They will have to chase the game even more in the second half.
GOAL PSG - PASTORE. Lucas with another great run down the right for PSG. He cuts back inside and squares for Pastore. From eight yards out he drills through the legs of Guaita.
Guaita given a back-pass he didn't really want. Lavezzi is in his face quickly, forcing the Valencia keeper to hack out for a throw.
Banega goes down in the box, but is waved back to his feet. He went down under pressure from Alex, but there was nothing in the challenge.
Feghouli driving forward, but he has four blue shirts in front of him. He is unable to find room for a shot and has no team-mates around him.
Guardado can't get a cross over, allowing PSG to counter, Lavezzi pulls wide to the right. His cross is also poor and cut out by the first man.
Jallet offers width down the PSG right, but lacks options. Valencia can't clear their lines and Lavezzi finds Pastore. He holds the ball up really well, allowing Lavezzi to join in again. He forces Guaita into a smart stop from 12 yards out.
Guardado unable to chase down a pass played into space down the Valencia left. Jallet was there with him had he been able to cut the ball back across the face of goal.
Tino Costa delivers from the free-kick. Jonas gets a head to the ball, but mistimes his jump and ends up getting underneath his header. The ball loops harmlessly wide.
Feghouli is tripped by Pastore wide on the Valencia right. Opportunity to load the box. PSG looking to delay things as Verratti takes an age to get back 10 yards.
Pastore finds Lavezzi with his back to goal. He draws a foul from Pereira. Clumsy from the Valencia full-back as Lavezzi was going nowhere. PSG go long towards Ibrahimovic from the free-kick, but he is caught offside.
Long throw from Pereira. Alex towers above everyone inside the box to nod clear. PSG lack numbers as they counter and Guaita is able to stroll out of his box and deal with a long ball downfield.
Verratti and Pereira are cautioned for their part in the bout of handbags. Stupid from Verratti as he will now miss the return leg.
Nice one-touch stuff from Valencia, but PSG have them at arm's length. Lavezzi then goes down as the visitors look to break. Valencia not too keen to put the ball out of play but eventually do. Pushing and shoving as PSG felt the ball should have gone out sooner.
Offside against Jonas. PSG defence stepped up well and caught the Valencia man napping. Los Che soon back on the ball and probing down their left.
Maxwell well forward down the PSG right, but Feghouli goes with him and blocks the route to goal. Pastore comes across to help out, but Parejo does enough to shield the ball behind for a goal kick.
Lucas far too quick for Costa as he knocks the ball into the box and races after it. He gets to it first and fires in a low shot. Guaita down well at his near post to gather. Ibrahimovic works hard to get the ball back for PSG as Valencia amble forward again.
Verratti is able to carry the ball to the edge of the Valencia box before being challenged. He finds Ibrahimovic outside him. His hanging cross to the back post has too much on it, but makes its way to Lavezzi, who hammers high into the crowd.
Free-kick to Valencia wide on their right. They play it short. When the ball is eventually played into the box, Sakho is on hand to clear for PSG.
Ibrahimovic halted by Parejo. He kept his eyes on the ball, not the striker's feet. Valencia unable to make inroads. All a bit scrappy at the moment.
Poor pass from Parejo, straight to Verratti. PSG unable to get a foot on the ball. Valencia, as they have to, are working so hard when not in possession.
Costa allowed to carry the ball a long way. Banega is freed into space down the channel. From the dead-ball line he fires over a low cross. PSG can only half clear, allowing Jonas to fizz and effort narrowly over the top.
Lucas leads PSG forward, striding away from Costa. He finds Verratti, who gives the ball away. Not seen much of the talenetd youngster so far. Ball back with Pereira, who picks out Sirigu with yet another delivery from a wide area. PSG not getting anyone near him at the moment.
Much better cross from Pereira this time. A teasing delivery drops into the six-yard box. Jallet first to it for PSG, as he pokes the ball to safety. Soldado didn't move quick enough.
Space for Pereira again in the right. His cross is met by Jallet, but his clearing header is poor and falls to Banega. He snatches at an effort from 20 yards out and drags the ball well wide of the target.
Nice interplay in midfield by Valencia, but Costa can't find a way around the sizeable frame of Alex. PSG are sitting very deep at the moment, looking to strike on the counter.
Soldado spots Sirigu off his line and tries a very ambitious effort. He strikes the ball all wrong and slices wildly out for a throw. Pereira sends over another cross from the right, but once again he can only find the hands of a grateful goalkeeper.
Ibrahimovic prepared to pull wide and drag defenders with him. He then plays a crossfield ball to Alex, who bombs forward from centre-half before realising that he has no need to take such risks.
Great strength from Ibrahimovic, who is then bundled over by a combination of Rami and Pereira. Free-kick to PSG and a chance to send the ball into the box. Maxwell does just that, but gets too much on his delivery and Guaita can claim unchallenged.
Feghouli away from Pastore down the Valencia right. He sends over a low cross, which Sakho hacks clear. Decent response from the hosts to falling a goal behind.
Pastore looking sharp tonight. On this occasion, a ball he sends wide drifts out of play as Maxwell slips while providing an overlapping run. PSG quickly pull numbers back.
Feghouli twisting and turning down the Valencia right, and he wins another corner off Matuidi. Rami gets his head to the set-piece, but loops the ball up in the air. Sirigu comes to claim and wins a free-kick as Soldado bumps him from behind.
Corner to Valencia once play resumes. Lucas is able to nod the delivery clear at the near post. PSG now have an away goal and can afford to shut up shop a bit if they so wish.
Soldado looking for an immediate reply from Valencia. He tumbles over Sakho as both men look to get a toe to the ball. Jonas with a dangerous cross and the PSG defender put in a very brave header. He went in with the boots flying.
GOAL PSG - LAVEZZI. What a goal from Lavezzi. Pastore with a neat flick into Lavezzi, who drifts past a challenge on the edge of the box. He then thrashes the ball through the hands of Guaita.
Pastore slips past one tackle, before feeding the ball wide to the PSG right for Lucas. He cuts inside, but tries too much and is dispossessed by Costa. Still awaiting the first sight of goal. It arrives as Lucas strikes the post with a 30-yard drive which leaves Guaita flapping at fresh air.
Alex able to force his way in front of Soldado, but can't clear. Valencia back on the ball with Banega. Neat passing across midfield from the hosts. PSG with plenty of men behind the ball.
Ibrahimovic has had two touches so far, and given the ball away both times. May be a slow burner for him tonight. You can guarantee that he will spring into life at some stage. Can Valencia handle him when he does? Hosts on the attack at the moment, but Jonas fires a cross into the stands.
Feghouli drifts inside, as he will go. He finds Banega, but there is no room on the edge of the PSG box and a threaded ball towards Soldado is cut out. The Valencia striker had also slipped offside.
Pastore steals the ball off Pereira and sets off downfield. Nothing doing for PSG down their left. Both sides looking to keep the ball on the deck, which is good to see.
Lavezzi strides forward, but dwells on the ball too long. Makeshift left-back Guardado steals the ball off his toe and wins a free-kick as he is then bundled to the turf.
Lucas back on his feet and should be okay to continue. Play back underway as Valencia return the ball to PSG. Throw to be taken by Maxwell down by his own corner flag.
Valencia play on despite a PSG player being on the deck. Lucas is the man down, holding his face. Valencia attack eventually breaks down and Sakho can put the ball out of play. Lucas landed on his ankle after challenging for a high ball with Jonas.
Valencia straight into their passing stride. Just about all of their outfield players get a touch inside the opening 60 seconds. Rami then fires long, but gets too much on the ball and Sirigu can come and claim.
Valencia get us up and running.
Champions League anthem rings out around the Mestalla. European football is back!
The players are with us and we are almost ready for the off. This two-legged tie can't be settled tonight, but victory for either side would put them in pole position to reach the quarter-finals.
Looking forward to seeing Zlatan and Lucas tonight. Lucas has been selected ahead of Menez - big show of faith from Ancelotti. For Valencia, Soldado is an out-and-out goalscorer and will pose the biggest threat to the PSG back four.
Probably worth pointing out that Valencia have a 100 per cent record against French sides at the Mestalla. They have come out on top in eight previous meetings with sides from Ligue 1.
Timal is the first to get in touch and offer an opinion on tonight's game, saying: "I think PSG will win 2-1 today & they will win the UEFA Champions league too this season. 2-1 PSG with opening goal from Zlatan Ibrahimovic & next one from Pastore. Soldado will score for Valencia. Come on PSG."
Tonight's referee is Paolo Tagliavento from Italy.
PSG team: Sirigu, Sakho, Alex, Maxwell, Jallet, Matuidi, Verratti, Pastore, Lucas, Lavezzi, Ibrahimovic. Subs: Douchez, Camara, Armand, Van der Wiel, Menez, Chantome, Gameiro.
Valencia team: Guaita, Rami, Pereira, R Costa, Feghouli, Banega, Guardado, Parejo, T Costa, Jonas, Soldado. Subs: Alves, Ruiz, Albelda, Viera, Canales, Piatti, Valdez.
You can also bet in-play throughout the game at Skybet.com. Valencia start at 29/20 to claim a first leg lead, with PSG available at 15/8 and the draw 23/10. You can get 45/1 on Javier Pastore to break the deadlock and PSG to win 1-0.
Will either side claim a first leg lead or will defences come out on top? Who will be the men to keep an eye on? Let me know your thoughts.
Feel free to offer your opinion on how things may turn out tonight by contacting me direct at Chris.Burton@bskyb.com or @SkySportsChrisB.
PSG sit proudly atop of the Ligue 1 standings and have won their last four league games, and 12 of their last 13 in all competitions. Their last defeat came way back on 1st December, suggesting they are full of confidence right now.
Valencia have been in decent form domestically of late, with a 1-1 draw against runaway leaders Barcelona marking a particular high. They are, however, currently fifth in the Primera Liga and have to work to do if they are to grace the Champions League in 2013/14.
David Beckham will play no part for PSG tonight, but he is attendance and will be hoping to see his team-mates secure a first-leg lead in this last-16 encounter.
Welcome to the Mestalla for our coverage of tonight's UEFA Champions League clash between Valencia and Paris St Germain.
Kick-off is 1945 GMT.