It was a season of contrasts for the Senators last year.

Off the ice there was financial turmoil, but an ultimately happy ending ... it looks like at this point, at least.

2002-03 BY THE NUMBERS

Record: 52-21-8-1, 113 pts. (1st overall, 1st East, 1st Northeast); Home: 28-9-3-1; Road: 24-12-5-0 Goals for/Avg.: 263/3.21 (3rd overall) Goals against/Avg.: 182/2.22 (5th overall) Differential: Plus-81 (1st overall). Power play: 21.2 percent (83-391, 2nd overall) Penalty kill: 84.9 percent (282-332, 10th overall) 20-goal scorers: Marian Hossa (45), Daniel Alfredsson (27), Todd White (25), Martin Havlat (24), Radek Bonk (22) 50-point scorers: Hossa (80), Alfredsson (79), White (60), Havlat (59), Bonk (54)

On the ice, there was unparalleled success, a President's Trophy as the NHL's top team, but ultimately disappointment.

Senators majority owner Rod Bryden, plagued by not having enough capital throughout his ownership, missed a payroll halfway through the season and wound up having to file for bankruptcy protection. A deal to sell limited partnerships in the team and rescue it from uncertainty fell apart at the last minute.

Enter pharmaceutical billionaire Eugene Melnyk, a Toronto native who lives in Barbados, who is the process of finalizing his purchase of the team and the Corel Centre. He said he didn't want to see another Canadian team leave the country and has pledged to make the money available to keep the team together.

The Senators, blessed with a strong core of young players on the rise, did not allow the off-ice turmoil affect their on-ice performance. They won the NHL's overall regular-season title for the first time. Then, they advanced to the third round of the playoffs for the first time with victories over the New York Islanders and the Philadelphia Flyers.

Backed by the inspirational presence of assistant coach Roger Neilson, who was battling cancer, the Senators rallied from a 3-1 deficit against the New Jersey Devils in the Eastern Conference final, but lost in seven games. Neilson, who lost his battle in June, had told them before Game 5 that they'll never know when they'd get a chance like that again.

Looking at next season
The Senators will return almost the same team as last season and should be considered Stanley Cup contenders in the same breath as the Devils out of the East.

But there are two big questions entering the season:

1. Can coach Jacques Martin prove he is capable of driving this team over the final hurdle? Martin is an excellent technical coach, but his ability to adapt during games and motivate his players remain in question. He is in the final year of his contract, so anything short of a trip to the final will likely mean the end of his tenure at the Senators' helm.

2. What did the Senators learn from their defeat at the hands of the Devils? They lost Game 7 in the final minutes and that is what most people will remember, but where they really lost the series was in Games 2, 3 and 4. They should have learned how important it is not to allow the smallest dropoff against an opponent like the Devils. Too many Senators came up with less than average performances in those losses.

The only notable departure for this season is left winger Magnus Arvedson. The former Selke Trophy runner-up is an unrestricted free agent and there are a number of candidates to take his spot on left wing given the Senators' logjam at center ice.

Senators general manager John Muckler said 20-year-old Jason Spezza, who had a stunning playoff debut in Game 5 against the Devils, will play this season on one of the club's two top lines. Spezza, who came to the Senators as a draft pick in the Alexei Yashin trade and was selected second overall in 2002, is a gifted offensive talent who looks ready for a chance after spending almost all of last season in the AHL.

With Spezza's arrival and the re-signing of Bryan Smolinski, who joined the club last season at the trade deadline, that leaves the Senators with too many centers and not enough spots.

It's likely Todd White, Mike Fisher or Smolinski could be shifted to the left side as they were at times during the playoffs. Petr Schastlivy, who had nine goals in 33 games before having his season ended by abdominal surgery, will also get another chance on the left.

The Senators just might have the best right side in hockey with Marian Hossa, Daniel Alfredsson, Martin Havlat and tough guy Chris Neil. Hossa is developing into one of the league's premier power forwards and Alfredsson is one of the hardest-working skilled players in the league. Havlat has the potential to be one of the league's best one-on-one players.

They all add up to a very solid, fast, deep group of forwards (last season they had six 20 goal scorers and Fisher knocking on the door with 18).

The blue line is similar in that it does not have one dominating defenseman. But you would be hard pressed to find a better bunch from 1-6, especially in a group so young. Wade Redden, the best of the bunch, was signed to a three-year deal worth just under $15 million, avoiding arbitration. He's 26. Chris Phillips, 25, is coming off a playoff in which he might have been better than Redden. Zdeno Chara, 26, needs to pick up his game after a mediocre playoff, but he has the potential to be a Norris contender. Karel Rachunek is just 24 and Anton Volchenkov, who might become the NHL's best open-ice hitter one day, is 21. They should all only get better after last spring's experience.

Veteran Curtis Leschyshyn, banger Shane Hnidy and mobile Brian Pothier give the Senators depth.

Goaltender Patrick Lalime has continued to improve each year and at 29, there's reason to believe he can still raise his game a notch. Consistency is the key. He has yet to join the ranks of the elite goaltenders in the league, but he appears on the brink.

The Senators again look like they are close to being a Stanley Cup champion. What Muckler must figure out is if the growth of the young players will be enough to make the difference or if a different coach or more experienced veterans are needed to close the deal.

Chris Stevenson of the Ottawa Sun is a frequent contributor to ESPN.com.