In an analysis of the teams ahead of this year’s Southeast Asian championship, Bola listed Vietnam, Indonesia, Thailand, Malaysia and Singapore as the top contenders.

Vietnam national football team during a training session in Gyeongju, South Korea on Nov. 25, 2024.

Vietnam enter the tournament in a new era, following the sacking of renowned coach Philippe Troussier in March. The national team's form has struggled in recent months, with disappointing performances in the Asian Cup and World Cup qualifiers.

After dropping out of the top 100 to 116th in FIFA ranking, the Vietnam Football Federation (VFF) appointed South Korean coach Kim Sang-sik with hopes of at least getting to the final of the 2024 AFF Cup.

"Vietnam are like the dark horse with noteworthy potential," Bola wrote. "They are very serious about their preparations, working at full strength with their key players and even trained in South Korea."

However, Vietnam will be without several key players for the tournament like defender Que Ngoc Hai, midfielder Do Hung Dung and striker Nguyen Cong Phuong due to fitness issues. Veteran forward Nguyen Van Quyet has retired from international football while full-back Doan Van Hau is still recovering from injury.

Coach Kim has called up the strongest squad available. Additionally, the naturalized Brazilian striker Rafaelson could join the team for the final group stage match against Myanmar on Dec. 21, 2024 if he gets selected by Kim.

In contrast, Bola assessed that Thailand, the seven-time Southeast Asian champions and defending champions, appear "relaxed in their preparations for the tournament".

For the first time since the 2014 edition, Thailand will be without four key players, defender Theerathon Bunmathan, midfielder Sarach Yooyen, Chanathip Songkrasin and striker Teerasil Dangda. Additionally, the top scorer in the Thai League 1, Supachai Chaided, will also miss the tournament.

However, coach Masatada Ishii still has a strong squad, with players like Supachok Sarachat, Suphanat Muaenta, Nicholas Mickelson and Weerathep Pomphan.

Indonesia, meanwhile, have become one of the most prominent teams in the region after a strong performance in the third round of 2026 World Cup qualifiers. However, Bola noted that Indonesia seem more focused on World Cup qualification rather than prioritizing the AFF Cup, despite finishing runner-up six times.

"Indonesia see the 2024 AFF Cup as an opportunity for younger players to gain international experience and improve their skills," Bola commented.

Coach Shin Tae-yong has called up 33 players, with 29 of them aged 21 or younger. This list also included eight players who participated in the World Cup qualifiers. This squad can also be the core of Indonesia’s U22 team for the 2025 SEA Games in Thailand.

The AFF Cup will be renamed the ASEAN Cup from 2024, and will run from Dec. 8, 2024, to Jan. 5, 2025. The 10 participating teams will be divided into two groups, with each team playing two home and two away matches.

The top two teams from each group, along with the two best third-place teams, will progress to the semi-finals, which will be played over two legs, with no away goals rule.

Thailand are the most successful team in AFF Cup, with seven titles (1996, 2000, 2002, 2014, 2016, 2020 and 2022), followed by Singapore (1998, 2004, 2007 and 2012), Vietnam (2008 and 2018) and Malaysia (2010).