2026 NHL Stanley Cup Futures: Can the Florida Panthers be dethroned?
With three straight trips to the Stanley Cup Final under their belts, it’s no surprise to see the two-time defending Stanley Cup Champion Florida Panthers enter the 2025-26 season as favourites to hoist Lord Stanley in 2026.
The Cats will have some tough competition, however, as Colorado, Vegas, Edmonton and others are all legitimate Stanley Cup contenders.
Let’s take a closer look.
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Stanley Cup favourite: Florida Panthers
Florida is looking to become the first team since the New York Islanders’ four-peat from 1980 to 1983 to win three straight Stanley Cups.
They’ve essentially brought the full band back together after re-signing UFAs Brad Marchand, Aaron Ekblad and Sam Bennett in the off-season.
Future Hall-of-Famer Sergei Bobrovsky still patrols the crease, while captain Aleksander Barkov remains one of the best two-way forwards in the NHL.
Keep in mind, Matthew Tkachuk will be out at least until December after undergoing surgery to repair a torn adductor, but that will give him plenty of time to get ready for the playoffs.
Remember, the Panthers were the first team to ever win the Stanley Cup and not hold home ice in any series last year, so playoff seeding isn’t too important for them.
Stanley Cup value pick: Colorado Avalanche
Our value pick is the Colorado Avalanche, who finally enter the season healthy.
The most important returning piece is captain Gabriel Landeskog, who has been deemed 100 per cent healthy after missing the last three full regular seasons. Landeskog hadn’t played since the Avs won the Cup in 2022 when he returned to record four points (1G, 3A) in five playoff game last year.
Valeri Nichushkin is also ready for a fresh start to the season after serving a six-month suspension last year and the team now has a legitimate second-line centre in Brock Nelson.
Colorado also has a solid goaltending tandem after making trades for Mackenzie Blackwood and Scott Wedgewood in-season last year.
And the two most important pieces are pure game-breakers. Nathan MacKinnon remains one of the most lethal offensive weapons in the NHL, while Cale Makar is the clear-cut best defenceman in the game.
Anyone who remembers the dominant run the Avalanche went on to win the Stanley Cup four seasons ago has to be fearful hearing head coach Jared Bednar say this is the most complete team they have had since 2022.
Last 10 Stanley Cup champions
| Year | Team | Opening Odds |
|---|---|---|
| 2025 | Florida Panthers | +900 |
| 2024 | Florida Panthers | +2000 |
| 2023 | Vegas Golden Knights | +1800 |
| 2022 | Colorado Avalanche | +600 |
| 2021 | Tampa Bay Lightning | +900 |
| 2020 | Tampa Bay Lightning | +675 |
| 2019 | St. Louis Blues | +3000 |
| 2018 | Washington Capitals | +1125 |
| 2017 | Pittsburgh Penguins | +1100 |
| 2016 | Pittsburgh Penguins | +1300 |
The average opening odds for teams that go on to win the Stanley Cup over the last decade is +1340, which tells us favourites are not a lock. Seven teams have Cup odds of +1300 or shorter this season, so the race is wide open.
Of course, St. Louis winning in 2019 at +3000 preseason odds skews the average a bit. However, six of the last 10 Cup winners have started the year at +1100 or greater.