Jose Mourinho’s Chelsea side crashed out of European’s premier competition on Wednesday night after Paris Saint-Germain progressed to the last eight on away goals after a 2-2 draw in extra-time at Stamford Bridge.
Arsenal, meanwhile, face the unenviable task of overturning 3-1 deficit in the second leg of their last-16 tie in Monaco next week, whilst Manchester City trail Barcelona 2-1 ahead of their trip to Camp Nou.
But Liverpool captain Gerrard, whose side were eliminated in the group stage following defeats by Basel and Real Madrid, played down talk of the English clubs being stuck in a Champions League crisis.
“I don’t think it has been our year but I don’t think it is a crisis,” Gerrard is quoted as saying by Liverpool Echo.
“I don’t think it will repeat as the years go by. Teams will bounce back.
“Chelsea, City, ourselves, Arsenal, will make signings in the summer, and come back next season and have another go.
“It has happened before where teams have gone out early and then come back the next year and won it.
“It’s not a major problem. It’s just that this season English teams have not been good enough.”
Gerrard won the Champions League with his boyhood club in 2005 after Liverpool beat AC Milan on penalties in dramatic fashion in Istanbul.
The 34-year-old Reds skipper is set to join Major League Soccer outfit LA Galaxy at the end of the season.
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