4. No Champions League Football
Looking back at the 2004/ 05 season, Liverpool's league campaign was pretty disappointing, and they would have missed out on Champions League football, but for their famous triumph in Instanbul, to win the competition for a 5th time. That year, Liverpool's success in the Champions League helped to mask the frustrations of a disappointing league season. The club's supporters have a real affinity with European football, due to the club's remarkable history surrounding it. It has come to define the club's image; if you ever suggest to a Liverpool fan they are no longer a huge club, they will proudly remind you of those 5 European titles, more than Barcelona and, of course, Manchester United. Had Brendan Rodgers been preparing his team for a Champions League last 16 tie this week, then perhaps the Liverpool fans would not yet feel another season had gone to waste. Instead, heading into an away tie in the Europa League in Russia, after the disappointment of Monday night is a far less inviting prospect. Competing in the Europa League isn't exactly a bad thing, and it offers the opportunity for more silverware, but it just doesn't compare to the rewards associated with the Champions League when you consider the prize money, the ties against the true elite and the sheer prestige of winning it.