Carabao Cup Holders Manchester City will travel to high flying Championship side Preston North End while Manchester United will welcome League One side Rochdale.
The money spinning ties are a boost for the north west which has seen contrasting fates this week for two sides who were struggling financially in the Football League.
Bury – whose first round away tie against Sheffield Wednesday was cancelled – giving the Owls a bye to the second round – were expelled from League One earlier this week.
And Bolton, who were today saved by a late takeover bid by Football Ventures, were dumped out by Rochdale in the first round.
Last years finalists Chelsea will host either Grimsby Town or Macclesfield Town after their tie was called off due to torrential rain.
Tottenham travel to Colchester United of League Two while Arsenal host Championship side Nottingham Forest and Liverpool travel to League One side MK Dons in a mouthwatering set of League Cup fixtures.
Carabao Cup Round 3 Draw in full
Wolves v Reading
Oxford United v West Ham
Watford v Swansea City
Brighton and Hove Albion v Aston Villa
Sheffield United v Sunderland
Colchester United v Tottenham
Portsmouth v Southampton
Burton Albion v AFC Bournemouth
Preston North End v Manchester City
MK Dons v Liverpool
Manchester United v Rochdale
Luton Town v Leicester City
Chelsea v Grimsby Town/Macclesfield Town
Sheffield Wednesday v Everton
Arsenal v Nottingham Forest
Crawley Town v Stoke City
Ties will be played in the week commencing September 23.
EFL Trophy fixture re-arrangement for Manchester City EDS
Manchester City’s EDS team’s away fixture at Rochdale in the EFL Trophy (Leasing.com Cup) has been re-arranged to Wednesday, September 11.
Unfortunately for Manchester City fans, that’s the same night as Vincent Kompany’s testimonial.
City’s former captain, now player-manager of Belgian side Anderlecht, hasn’t enjoyed the best of starts at his former club, and injury may rob him of one final appearance at the Etihad, but the fixture clash may now affect attendance at Spotland.
City’s EDS team have have away ties at Bradford City and Doncaster Rovers in October.