How the Golden Knights went from 39 wins to the brink of the Cup final

The most hated team in hockey is back at it again. After a disappointing season that saw the Knights record their worst winning percentage in franchise history, they find themselves one win away from their third Stanley Cup final appearance.

Looking under the hood, the Knights have been playing some of the best hockey in the league — you just haven’t noticed.

Luck, goaltending and the volatile nature of hockey

Despite playing in one of the worst divisions in the history of the sport, the Knights still managed to lose more games than they won. With that being said, the process was there for the Knights.

Vegas finished fourth in expected goals percentage at 5-on-5, with two of the teams ahead of them being in the conference finals as well. In fact, three of the top four teams in expected goals percentage have made the conference finals in each of the past three seasons.

The Knights finished dead last in goals saved above expected, with their goaltenders allowing 25 goals more than expected. Carter Hart, Adin Hill, and Akira Schmid couldn’t buy a save, and they dragged the Knights out of games they likely should have won.

Additionally, the Knights finished with the fifth-worst PDO, calculated by combining a team’s shooting and save percentages. Teams towards the bottom of this list are generally due for regression to the mean.

Last season saw Toronto and Winnipeg finish in the top three of PDO, two teams that took big steps back this season.

Vegas’ willingness to throw loyalty out the window

Generally, firing one of the best coaches in hockey a week before the playoffs wouldn’t solve all your problems, but the Knights don’t operate like a normal hockey team. Since its inception nine years ago, Vegas has done everything in its power to compete for the Stanley Cup.

The best example of their cold-hearted management came in 2021 when they traded Marc-Andre Fleury, fresh off a Vezina Trophy win. The future Hall of Famer was shipped off for Mikael Hakkarainen, who bounced between the AHL and ECHL before heading to Finland.

General manager Kelly McCrimmon reminded the hockey world how he operates when he fired head coach Bruce Cassidy with eight games remaining. Cassidy led the Knights to their first Stanley Cup in 2023 and is regarded as one of the best coaches in the league.

A new voice seemed to be exactly what the Knights needed, as they went on to win seven of their last eight games under newly hired head coach John Tortorella.

That management style is unlikely to change anytime soon for the Knights, as they are already rumored to be considering shipping out Tomáš Hertl for cap flexibility.

The house always wins

Just as it seemed the Knights’ contention window was closing, they went out and traded for the best player on the market in Mitch Marner. Their businesslike approach to the game will likely keep them among the league’s top teams longer than fans would like.

Not only are the Knights winning in dominant fashion, but they’re doing so against a Colorado team that started the season with 19 wins in 20 games. Pavel Dorofeyev and Brett Howden are playing like 50-goal scorers, and Marner is doing everything Toronto fans said he couldn’t — stepping up in the playoffs.

Now, sitting one win away from their third Stanley Cup final in just nine seasons, the Knights are making a case for the best-run team in hockey.

About the Author Published May 25, 2026

LUC MUIR

Luc Muir is an NHL beat writer for Ball Exclusives.