The Florida Panthers have done it again—and the hockey world is watching with bated breath to see if the reigning kings of the NHL can pull off an elusive three-peat. After capturing their first-ever Stanley Cup in the 2023-24 season, the Panthers roared back and defended their title in 2024-25, dispatching the Edmonton Oilers in a hard-fought six-game final. Now, as the 2025-26 campaign dawns, Florida stands atop the league as the team to beat, boasting a roster that’s both star-studded and battle-tested—even if it’s not quite as deep as in years past.
How did the Panthers pull off this remarkable feat? It’s a question that’s got fans, analysts, and oddsmakers buzzing. According to ESPN’s futures page, Florida enters the new season as the betting favorite for a third straight Cup, with odds ranging from +600 to +700. Not far behind are perennial contenders like the Carolina Hurricanes, Colorado Avalanche, Edmonton Oilers, Vegas Golden Knights, and Dallas Stars, all clustered with odds between +650 and +1000. As Reuters reports, some major sportsbooks even give the Oilers a slight edge, but there’s no denying the Panthers’ championship pedigree—and the aura of invincibility that comes with it.
Last season, Florida’s journey was anything but straightforward. The franchise faced the harsh reality of the salary cap era, losing key contributors like Brandon Montour, Oliver Ekman-Larsson, Vladimir Tarasenko, and goaltender Anthony Stolarz to free agency. Kyle Okposo hung up his skates for good. Yet General Manager Bill Zito refused to let the Cup slip away. He re-signed cornerstone pieces Sam Reinhart, Aleksander Barkov, Matthew Tkachuk, Carter Verhaeghe, Sam Bennett, Gustav Forsling, Aaron Ekblad, and Sergei Bobrovsky. Zito also worked his trade magic, acquiring Brad Marchand from Boston at a discount while the veteran winger recovered from injury, and landing Seth Jones in a bold midseason move that cost the team promising goalie Spencer Knight.
Despite resting their stars and cruising into the playoffs as the third seed in the Atlantic, the Panthers flipped the switch when it mattered most. They dispatched the Tampa Bay Lightning in five games, survived a seven-game scare from the Toronto Maple Leafs, then steamrolled the Carolina Hurricanes in the Eastern Conference Final. In the Cup Final, it was business as usual—Florida outclassed Edmonton in six, powered by a Conn Smythe-winning performance from Sam Bennett and a third line (Eetu Luostarainen, Anton Lundell, and Marchand) that terrorized opponents at 5-on-5, outscoring them 13-4 in the postseason.
So, what’s different this year? For starters, the Panthers are without Matthew Tkachuk to begin the campaign. The power forward is recovering from adductor surgery and is expected to return in winter 2025-26. His absence leaves a gaping hole in the lineup, but the team’s depth and adaptability are already legendary. Coach Paul Maurice, now third all-time in NHL coaching victories with 916 and counting, has shown a knack for getting the most out of every player on his roster. Maurice’s style—aggressive, physical, and playoff-ready—has become the Panthers’ hallmark, and his ability to connect with and motivate his players is widely praised. As one observer put it, "He is communicative, funny and known to inspire tremendous respect among his players."
Florida’s offense might not have dazzled in the regular season (finishing 15th in goals and running the league’s 13th-best power play), but that was by design. The team prioritized rest for its stars, with Tkachuk, Barkov, Bennett, Reinhart, and even Marchand taking strategic time off ahead of the postseason. The result? A league-best 4.09 goals per game in the playoffs and a power play that converted at over 25%. The top line of Verhaeghe, Barkov, and Reinhart is arguably the best two-way trio in hockey, while the Luostarinen-Lundell-Marchand line continues to be a force. With Tkachuk sidelined, eyes turn to young Mackie Samoskevich, who scored 15 goals in limited minutes last year and could be poised for a breakout. If he falters, Marchand is more than capable of stepping up to fill the void.
On the blue line, the Panthers are as stingy as ever. No team allowed fewer 5-on-5 scoring chances last season, and Florida posted the lowest expected goals against in the Eastern Conference. Forsling and Ekblad anchor the top pair, vacuuming up big minutes and tilting the ice in Florida’s favor. Seth Jones, now fully integrated, and Niko Mikkola form a formidable second pair. Jeff Petry, a key offseason addition, will slot in alongside Dmitry Kulikov to round out the defense. The Panthers’ defensive success isn’t just about the blueliners—the forwards, led by Selke Trophy winner Barkov and runner-up Reinhart, buy in across the board. And let’s not forget the team’s physical edge: "No team threw more hits or took more penalties last season. The Panthers make you pay, with the nasty Bennett in particular serving as their tone setter."
Goaltending remains a position of strength, with Sergei Bobrovsky now a surefire Hall of Famer. The two-time Vezina winner and 400-game victor has silenced critics with three straight trips to the Final and two Cups. His .912 save percentage and six shutouts over the past three playoff runs speak volumes. Newcomer Daniil Tarasov, acquired as a backup, is seen as a potential reclamation project with the perfect mentor in Bobrovsky. As the team looks to the future, top prospect Jack Devine may also get a chance to contribute, though the Panthers are so deep that they can afford to be patient with rookies.
Of course, questions remain. Can Samoskevich (or Marchand) fill Tkachuk’s scoring void? Will the Panthers again manage their stars’ minutes, especially with many expected to play in the 2026 Olympics? And with a new playoff salary cap on the horizon, can Zito continue to work his roster-building magic without running afoul of the rules? As one analyst noted, "The Panthers will eventually face the consequences of punting picks and prospects and paying players like Marchand until they’re in their mid-40s. But not yet."
For now, Florida’s dynasty is alive and well. With a core that’s locked in, a GM who’s proven adept at finding value, and a coach who knows how to get the best out of his team, the Panthers are poised for another deep run. The rest of the league has been put on notice—Florida isn’t just the favorite, they’re the standard. Whether a third consecutive Cup is in the cards remains to be seen, but one thing’s for sure: the 2025-26 NHL season is shaping up to be one for the ages, and the Panthers are right at the center of it all.
