The team they had to beat in 2023? Panama. The Latin American nation was able to stun their way to another North American final by stunning everyone when they beat the U.S. in the semifinals on Thursday, punching the country’s ticket to a CONCACAF Final for the fourth time ever. However, Panama has never taken home the grand prize.

The defining moment of the 2025 Concacaf Nations League in Los Angeles may never be topped. Panama’s stunning 1-0 upset of the U.S. in the semifinals was marked by the injury-time goal celebration of Cecilio Waterman, a 33-year-old journeyman center forward who leaped into the arms of legendary former France and Arsenal striker Thierry Henry.

Mexico and Panama face off in the Concacaf Nations League final in a rematch of the 2023 Gold Cup final.