Chelsea chief executive Peter Kenyon has revealed his disappointment at the club's failure to secure silverware for the first time in four seasons.
The Blues were runners-up in the Premier League to Manchester United and lost the Champions League Final to the Old Trafford club on Wednesday evening.
They were also on the losing side against Tottenham in the Carling Cup Final, while they suffered an embarrassing exit at the hands of Barnsley in the FA Cup.
The future of manager Avram Grant continues to be the subject of much speculation, but Kenyon's decision to focus on the negative is hardly a ringing endorsement of the Israeli coach.
"Three months ago, we were involved in four competitions, six weeks ago we were still in two and last night (Wednesday) we got knocked out of the last one," he said in The Times.
"It's disappointing from that point of view, but we're going to regroup from that and come back better next season.
"It's been an interesting season, but you don't like finishing second and as runners-up.
"Given the standards we've set at the club, that's not something we've settled for."