Arsene Wenger has admitted that Arsenal's season has been a 'failure'.
The Gunners managed to reach the final of the Carling Cup without many of their star names but flattered to deceive in the FA Cup and UEFA Champions League and did not last the pace in the Premiership title race.
Wenger believes the future is bright for his young squad but concedes it has been a largely disappointing campaign.
"We are 22 points behind the leader, so I cannot say I did everything perfectly," he explained.
"I have to stand up first to say I am responsible for the fact that we did not fight for the championship.
"The only thing I can say is that I was more committed and worked harder than ever this year - but still I have to stand up for what I call a failure."
Asked if this campaign ranked as his worst, the Arsenal manager reflected: "If you analyse the season globally I would say yes - but as well there are some exceptional moments of quality.
"The players went with a convincing way in the Carling Cup final and we have shown some quality football which nobody else has shown. That tells you about the potential of the team."
Arsenal can snatch third place with victory over Portsmouth in their final game of the season, and Wenger feels it is also important to get a good result so that everyone at the club can look forward with confidence.
"It is more psychological than real because it does not change anything apart from the pride we want to feel about finishing above Liverpool," he said.
Wenger is currently looking to appoint a director of football at Arsenal following the departure of David Dein, but insists he will not be rushed into filling the vacancy.
Monaco general manager Henri Biancheri, assistant Lyon coach Remi Garde and Reading's Nicky Hammond are among those to have been linked with the position, which is being plugged at the moment by director Ken Friar.
Wenger said: "I am not closer to it. Now Ken Friar is helping me out and it will go on until July like that and then we will see.
"In the middle of the transfer market now it is very difficult to appoint somebody.
"I was thinking at first to do it as quickly as possible and then I started to get phone calls from everywhere.
"I met one or two good people who have the qualities to do it, but I want to meet more."
he refuses to do what is clear as a bell to everyone.. teach the players to sometimes mix it up with "ugly football" along with their fantastic passing game...
that and to get another 20 goal-a-season striker..
when RvP and Henry is injured, the team was stuffed.. Baptista CMI... and RvP is more a midfielder...
a few reasons why Arsenal did not win anything.
Bad luck with injuries.
Squad too young.
Baptista's form came too late.
Relied on Henry's experience and Van Persie for goals, in the end, both got injured
Too few signings for backup.
Le boss is stubborn. I dun think he'll buy another striker who can score 40 goals. piak pui what the heck,baptista signed for arsenal. wthhh.