There are speculations that one of the team in Guardians of the Galaxy Vol. 3 will die. James Gunn responded to a fan asking if some will die in Guardians of the Galaxy Vol. 3, “I can’t remember ANY comic book film where anyone didn’t die!”.
We should'nt get too ahead with ourselves, Gunn likes to use deaths in his superhero movies to give the film an emotional boost. Gunn ended up killing off Groot in Vol. 1 and we saw Yondu Undonta death in Vol. 2. This could mean that he's goin to pull the same trick in Vol. 3.
Fans are also speculating that Rocket Racoon has the biggest chance of not making out alive and it could be the perfect sendoff should Vol. 3 wrap up the Guardians franchise.
Gunn is currently shooting The Suicide Squad but after he's done, he will set to move on to Guardians of the Galaxy Vol 3.