Other forms: finalists
A finalist is a competitor who reaches the final game, match, or tournament. If your favorite sports team wins in the semi-finals, it means they're a finalist in the last game.
A spelling bee finalist is likely to face some really tricky words, and a finalist in a pie-eating contest must be unbelievably good at quick chewing and swallowing. If you don't expect to win even one game in a chess competition, you'll be shocked to find yourself a finalist. An earlier meaning of the word was "one who believes the end has been reached."