It was Colorado's first appearance in the Finals, in only their first season in Denver since moving from Quebec City (where they had formerly played as the Nordiques) in 1995.

The Panthers are currently the second Stanley Cup finalist team after the 1982 Vancouver Canucks without any Hall of Famers on their roster.

Colorado defeated the Vancouver Canucks, Chicago Blackhawks, and Detroit Red Wings in six games each to advance to the Finals.

Florida defeated the Boston Bruins in five games, the Philadelphia Flyers in six, and the Pittsburgh Penguins in seven.

Although Colorado was the heavy favorite in the series, Florida got on the board first on Tom Fitzgerald's goal at 16:51 of the first period.

Valeri Kamensky followed with a goal just 31 seconds later, and Jon Klemm scored at 10:03 to give Colorado a dominating 7–1 lead after two periods.

Claude Lemieux, back after his two-game suspension, scored the first goal of the game at 2:44 of the first period to give Colorado a 1–0 lead.

Captain Joe Sakic scored the go-ahead goal just 82 seconds later, and Colorado went on to win 3–2 and take a commanding three-games-to-none lead in the series.

Uwe Krupp's unassisted goal at 4:31 ended 44 minutes and 31 seconds of overtime and gave the Avalanche a 1–0 win and a four-game series sweep.

Colorado outscored Florida 15–4 in the series, and Patrick Roy stopped 147 of 151 shots, for a save percentage of .974.

Joe Sakic was awarded the Conn Smythe Trophy as playoff MVP, having led all skaters in goals with 18, and points with 34.