Will Panthers Three-Peat, or Can Edmonton Oilers Finally Break Through in 2026?

Will it be a three-peat for the Florida Panthers? Or will the third time be the charm for the Edmonton Oilers?

Or will the 2026 Stanley Cup Final break the trend we’ve seen over the past two seasons?

The Panthers are — deservedly — still in celebratory mode after beating the Oilers in six games to earn their second consecutive Cup crown, and the trophy has the damage to prove it. But that doesn’t stop us from looking ahead to next year’s championship odds.

To the surprise of no one, both the Panthers and Oilers are among the favorites to meet in the finals for a third consecutive year — a feat that has happened only once, back in the mid-1950s when the Detroit Red Wings and Montreal Canadiens ruled the six-team NHL.

Curiously, the odds have shifted since they first opened last week.

In the immediate aftermath of the Stanley Cup presentation, the Oilers were listed as favorites (+650), followed by the Panthers (+750) and the Colorado Avalanche (+800). Now, the Avalanche have moved into the top spot, followed by Edmonton and Florida.

Certainly, there are reasons to consider all three clubs worthy of a wager.

Despite a lack of defensive depth and lingering questions in goal — even after MacKenzie Blackwood’s efforts last season — the Avalanche remain a legitimate threat. With Nathan MacKinnon and Cale Makar leading the way offensively and a full season from a healthy Gabriel Landeskog, Colorado boasts a deep and talented forward group.

Whether the Avalanche deserve to be the favorites is debatable, but there’s no doubt they’re a serious contender.

Then there are the two-time champion Panthers, who were by far the best team in the playoffs — even with Matthew Tkachuk limited due to injury. Florida will need to navigate some salary cap gymnastics, with forwards Sam Bennett and Brad Marchand, and defensemen Aaron Ekblad and Nate Schmidt all set to become unrestricted free agents. Still, betting on the Panthers to find a way to chase a third straight title is a smart play. No team has pulled off that feat since the New York Islanders won four in a row starting in 1980.

Which brings us to perhaps the best bet of all: Edmonton.

With the dynamic duo of Connor McDavid — a worthy preseason pick to win next year’s Conn Smythe Trophy — and Leon Draisaitl, the Oilers remain a top contender. Add in the motivation of back-to-back Stanley Cup Final losses, and the mix should be even more potent.

Yes, goaltending remains a major question mark, and Edmonton will also have to address its own salary cap challenges. But this roster is built for more than one run. While McDavid and Draisaitl are still in their prime, the Oilers are a smart team to bet on.

By the way, when the Red Wings and Canadiens met in three consecutive finals, Detroit won the first two — and Montreal ended the streak. History has a funny way of repeating itself.