Gutted John Lundstram said sorry to the travelling Rangers fans for "letting them down" in Seville.
Lundstram and his teammates battled heroically to make it this far and took Eintracht Frankfurt the distance in the final.
120 minutes couldn't separate the teams and only Aaron Ramsey 's miss in the shootout stopped Gio van Bronckhorst and his team from lifting the trophy.
The players were visibly distraught on the pitch after the game with Kevin Trapp's spot-kick stop sealing Frankfurt's second ever European trophy.
And Lundstram said on BT Sport: "It's a hard one to take, to lose on penalties.
"For 120 minutes I don't think either team performed great. I thought we could have performed better, it's hard to perform well on a big stage like this.
"We're severely disappointed to lose on penalties. It's a lottery, we're severely disappointed to let everyone down.
"Three quarters of the stadium is Rangers fans, to let everyone down is heartbreaking."
Ally McCoist though was quick to offer words of reassurance as he said: "Let's get that straight right away, John Lundstram and the Rangers players did not let anyone down.
"Far from it. The complete opposite. The boys can be extremely proud of the journey they've taken us on."
