For the second successive season the Reds are not in Europe's premier competition and for a club which has won the tournament five times - the last famously in 2005 - that is difficult to accept.
However, after a couple of years of under-investment in the squad the last 10 months have seen a significant strengthening in playing resources and has raised hopes Liverpool can regain their top-four status.
Pain game: Reina is desperate to compete in the Champions League
Reina himself is looking forward to the nights when he can relax watching replays of his own team play in the Champions League rather than having to tune in to other clubs.
'I like to watch football and any chance to watch a decent game I do,' said the Spain goalkeeper at the launch of his book Pepe, My Autobiography.
'I would like to watch a Champions League game on Tuesday at 12 midnight with Liverpool having played just before but unfortunately at the moment it is any English or Spanish team at 7.45pm,'
Reina's book covers a number of areas but the most difficult part for him was recounting the final days of the dysfunctional reign of Tom Hicks and George Gillett when the club was taken to the brink of administration and Reina considered quitting Anfield with Arsenal having lodged a bid.
Glory days: Reina moved to Anfield not long after this famous triumph in Istanbul
He is relieved, therefore, that a much more solid base has been built by Fenway Sports Group, who celebrated their first anniversary in charge last month.
'All the stuff about the club being threatened with administration - those were the most difficult bits,' he added.
'It was a pretty tough moment for everyone, not just me. Everyone at Melwood, Anfield and around Liverpool were not very happy with the club, team and the performances.
'They were tough moments but once again I knew a club like Liverpool was not going to be sitting waiting for it to go into administration and fortunately we found good owners and the stability came back.'
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