Kenny Dalglish admitted he could not fault the effort and commitment of his players, despite seeing Liverpool's European aspirations ended by a 1-0 defeat at Aston Villa on Sunday.
The Reds suffered a narrow loss in the Midlands after Stewart Downing netted the only goal of the game in the first half.
That result, coupled with Tottenham Hotspur's 2-1 success over Birmingham City at White Hart Lane, means Liverpool end the season in sixth position and miss out on a European berth.
However, Dalglish paid tribute to the efforts of his squad in ensuring the side went into the final weekend of the season with a chance of securing continental football.
Dalglish told reporters: "It's disappointing. I am disappointed for the players, certainly not with them. They have done fantastic to do as well and get as far as they have done, and it would have been nice to have finished on a positive.
"I think we just ran out of legs a little bit and ran out of players as well."
He added: "The most important thing for us is we did the best we possibly could. It's not their (the players') fault their legs ran out a wee bit and they came up a wee bit short - but the disappointment is for them, not with them."
Raul Meireles had Liverpool's best opportunity to salvage a point at Villa Park, but saw his goal-bound effort denied on the line by a combination of Brad Friedel and Richard Dunne.
Dalglish continued: "It was either Brad Friedel or Richard Dunne, I'm not sure but they kept it out anyway. I think with the goal we lost, on another occasion Carra would have been given a free-kick.
"I thought we could have been given a free-kick for the challenge in the middle of the box. He (Downing) struck it really well, it went in off the underside of the bar and Pepe didn't have much of a chance of saving it.
"It wasn't to be but the players gave everything in the second half and played a lot better.
"Villa had a couple of chances as well because we were pushing forward, but I think they never failed for a lack of effort or commitment."
Reporters were keen to quiz Dalglish on whether he felt a season without European football could prove beneficial in helping them stay fresh for their assaults on other competitions.
The manager responded: "It's always nice for everybody to be involved in Europe. Whether it's going to be helpful not being in it remains to be seen.
"It's a long time since this club hasn't been in Europe, so it's new ground for everybody. We need to get on with it and accept that we aren't in it, but we didn't not qualify for Europe because we lost the game today, it was because we had a bad start to the season and if you start as badly as that, you're lucky to be sixth come the end of it."
Dalglish added: "The challenge is to turn up in July and get ourselves going again. They (the players) deserve a holiday.
"Obviously some of them are a bit more fortunate than others and don't have to play in the Copa America in July. We just need to get on with it and push forward. I hope the players enjoy their break because they deserve it."
On whether not being in the Champions League could have an negative impact on his transfer strategy, Dalglish stated: "There are a lot more players who don't play in the Champions League than do.
"I think Liverpool Football Club is a big enough attraction for players. If we want to bring somebody in, I am sure the club will be a huge attraction for them. Anybody that is going to come in is going to have to be a lot better than what we've got here - and that's only a chosen few.
"We'll be selective with what we want to do and if a player doesn't want to come (here), it's their loss, not ours.
"We certainly won't discuss what we're going to do with our business, we've always done it behind closed doors."
Despite narrowly missing out on European qualification, Dalglish has overseen a major turn around in Liverpool's fortunes since being restored to the helm in January.
While pleased with the form of his team in 2011, the gaffer admits he cannot be satisfied with a sixth-placed finish
He said: "I am relatively happy but at the same time it's not a football club that has built its history and tradition on losing matches, so we don't want that to become a habit. I am really proud of the players, what they've tried to achieve and how they've turned it around."
Meanwhile, Dalglish believes the appearance of Steven Gerrard amongst the travelling fans at Villa Park is indicative of the team spirit in the Melwood dressing room.
The Reds' skipper watched the match unfold alongside Kopites and Dalglish admits it was pleasing to see.
"It's a reflection of what the club means to him," he said. "Although he's not been playing, he's been fantastically supportive to the people that are and he'll be back next season fit, fresh and raring to go.
"The fact he's taken the time to come and watch the lads is an indication of the bond in the dressing room between the players, which is always helpful."
http://www.liverpoolfc.tv/news/latest-news/kenny-s-villa-verdict
