The Penrith Panthers entered 2025 chasing rugby league immortality.
Four straight premierships had cemented their place among the greatest dynasties the sport has ever known, and the five-peat was within reach.
But for the first time since 2019, the men from the foot of the mountains will not feature in the grand final.
A 16-14 preliminary final defeat to the Brisbane Broncos at Suncorp Stadium brought an end to one of the most remarkable streaks in NRL history.
Their campaign began under the shadow of three massive departures: Jarome Luai, James Fisher-Harris and Sunia Turuva.
Each had been central to Penrith's dominance, and their exits left holes in the spine, the pack, and the backline.
The Cleary-Luai partnership, which had guided the Panthers through their golden run, was finally broken up.
In its place, a battle unfolded between Brad Schneider, Jack Cole and Parramatta recruit Blaize Talagi, with the youngster ultimately claiming the No.6 jersey.
Replacing Fisher-Harris was never going to be simple, but Lindsay Smith rose to the challenge.
Already a Kangaroos representative, he evolved into one of the NRL's most reliable middle forwards and ensured Penrith's engine room remained formidable.
Out wide, the wing spot vacated by Turuva was contested between Canterbury recruit Paul Alamoti and young gun Thomas Jenkins.
Jenkins proved to be one of the revelations of the season before Alamoti got the nod throughout the finals series, signalling that Penrith's production line remains strong as ever.
How the Panthers went from cellar dwellers to contenders
Uncharacteristically, Penrith stumbled out of the blocks.
By Round 12 they were sitting last on the ladder, searching for answers to a problem that they hadn't faced in years.
They refused to panic and slowly built into September, winning nine of their last eleven games - reigniting the belief that the dynasty still had fuel in the tank.
An elimination final win on the road in Auckland, followed by a semi-final demolition of the Bulldogs in front of nearly 57,000 at Accor Stadium sent a warning shot to the rest of the competition.
At Suncorp Stadium, Penrith led 14-0 at half-time and appeared set for another grand final appearance.
But three second-half tries flipped the game on its head. Penrith fought to the final siren, but a 16-14 defeat ended their reign.
For their captain Nathan Cleary, the result stung but did not close the book.
"I wouldn't say anything's over yet," he said defiantly.
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What does this mean for the Panthers' dynasty?
The loss to Brisbane snapped the most dominant streak of the salary cap era. Four straight premierships and five consecutive grand final appearances may never be matched again.
But Penrith's story isn't necessarily finished. Much of their core - Dylan Edwards, Brian To'o, Cleary, Isaah Yeo, Liam Martin - remain locked in long-term.
Young players like Talagi and Casey McLean gained invaluable experience in 2025, while the system that underpinned their rise is still intact.
The challenge is no longer keeping the streak alive - its proving that the dynasty can evolve rather than end.
Many great fighters throughout history have made the point that once they took their first loss, they became a more dangerous version of themselves because of the renewed sense of freedom they felt.
That is a terrifying proposition for the rest of the league.
The five-peat dream may be gone, but Penrith's reign is not. Hardened by the pain of what happened at Suncorp Stadium and fuelled by a half-decade of dominance, the Panthers remain a force to be reckoned with heading into 2026.