The Reds' disappointing continental campaign hit its lowest point on Tuesday night in Budapest, despite Rafael Benitez's side winning their own Group E encounter 1-0 against Debrecen.

Striker David Ngog, again lining up in place of the injured Fernando Torres, scored the Liverpool winner but it was Fiorentina's victory by the same margin against Lyon which ensured the Reds would be consigned to Europe's second competition.

Now Gerrard wants to lift the Europa League trophy to make up for his disappointment.

"Of course it's disappointing, we played fantastically well tonight and despite getting three points we don't progress," he told Sky Sports 2.

"Hopefully now we'll be in the Europa League so we'll try to win that.

"The main prize has gone and to be playing in the Europa League is disappointing but we have to accept that, move on and try to win that competition.

"The only consolation in this is if we go on and win the secondary one."

Benitez commended his side for doing their part in securing victory over Debrecen but attempted to divert attention to Sunday's Premier League meeting with Merseyside rivals Everton.

"We had to do our job today. Our job was to win and we won but we couldn't control the other game," he added.

"To win today was the only thing we could do and we played well, with four or five clear chances.

"The main thing is to be ready for the next match, we have an important game on Sunday."

Asked whether he was confident of qualifying for the Champions League next year, Benitez was unequivocal.

He said: "I am 100% sure we will finish in the (Premier League's) top four. The team will play well when all the players are available so I am sure we will finish in the top four."

Liverpool managing director Christian Purslow also spoke to Sky Sports 2, publicly supporting the Spaniard despite the setback.

He said: "You can never predict last-minute goals, which have cost us dear in the Champions League. That's no basis to make managerial decisions.

"We don't run our business in that respect. I'm on the record as saying Rafa's signed a new five-year contract, he's four months into that contract so to discuss that is not appropriate."

Referring to the financial aspect of missing out on qualification from the group phase, Purslow added: "It's limited actually. Assuming we have a reasonable run in the Europa League then we are financially neutral for this year."