AC Milan boss Carlo Ancelotti blamed a crazy period of play for his side's remarkable Champions League final defeat to Liverpool.
"We had six minutes of madness in which we threw away the position we had reached until then," he said.
"The match was well contested and it's inexplicable because the team played well for all 120 minutes.
"That's the way it went and we must go forward. We recognise it, we are displeased and disappointed."
He added: "I think Milan played a marvellous final. We lost without deserving to lose and OK, we have to accept our defeat.
"We had the penalties and we lost and I think the team should be proud of what we have done. We are unhappy but I think we lost in an honourable way.
"Now we must play our last match of the season and then we will start thinking about next season."
The defeat completes a miserable double for Milan whose draw with Palermo last Friday saw Juventus take their Serie A title.
AC Milan vice-president Adriano Galliani said that despite the defeat, his side had enjoyed a good campaign.
"Even if we come second in the league, and second in the Champions League, this is not a disastrous season for us," he said.
"I've seen a great Milan tonight, aside from those six mad minutes where we conceded three goals.
"In extra-time, we played to win while Liverpool did the opposite. They were just looking to go for the penalties.
"I think I can say that we've been unfortunate considering that Andriy Shevchenko's disallowed goal should have counted as he was in an onside position," he said.
Milan captain Paolo Maldini said: "It is very strange and hard to explain.
"Of course, it is a huge disappointment. I've had a few disappointments in my career but this is certainly among the major ones.
"But we go out with our heads high and we have to accept the result even if it was so harsh and hard on us."
Argentina legend Diego Maradona admitted he was shocked by Liverpool's comeback.
"Even the Brazil team that won the 1970 World Cup could not have staged a comeback with Milan leading 3-0," said the former Napoli star.
"I am disappointed as anyone who has played in Italy would be. At 3-0 Milan were convinced that no-one could come back.
"But what has happened has happened. Milan never stopped playing and [Andriy] Shevchenko could have won it in extra-time.
"I have seen comebacks like that in football but never against a team that so clearly was superior as Milan were."