"I'm devastated, absolutely devastated. It's a massive low in my career. It has been a disaster whichever way you look at it," he said.
"Players have to perform week in and week out and I'm not excluding myself from that. I look at the depth of our squad and we should be challenging for the title and the Champions League, but we've underachieved instead. I'm gutted, it's every bit as sickening as missing out on the World Cup.
"The table doesn't lie and we didn't deserve to finish any higher than fifth. But come next season we can wipe the slate clean and start again. Perhaps missing out this year will prove a valuable lesson and give us an extra incentive to do well next season.
"It's important we pick ourselves up now. No one feels sorry for Liverpool. You have to earn the right to be successful."