In November he said he was sure of guiding Liverpool to a top-four finish in the Premier League, but last Sunday's 2-0 home defeat by Chelsea ended the chance of that happening.
As a result, Liverpool will be without Champions League football next season - the first time since 2002/03.
The Reds made an early exit from both the Champions League and FA Cup, and their last chance for silverware ended when they lost to Atletico Madrid in the Europa League semi-final last week.
As well as their on-field struggles, Liverpool's season has been overshadowed by continued speculation about the future ownership of the club, which came to a head in April when owners Tom Hicks and George Gillett said they would be looking to sell.
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