Gunners boss reflects on his club's failures this season and has two regrets in the Champions League competition.
"I think we have shown quality and I believe we had the level to go much further in [the Champions League]," Arsenal boss Arsene Wenger explained to the club's official website earlier today, Wednesday.
The Gunners were knocked out of the competition by Bayern Munich in the Round of 16, after a group stage where they limped over the finish line in second place after two losses sustained against Borussia Dortmund and AS Napoli.
For Wenger, the importance of group stage dominance cannot be underestimated and he has regrets over the North London side's performance at home, at the Emirates Stadium, against BvB - a game they lost 2-1.
He said: "I have two regrets, the first one is that we were caught on the break against Dortmund when we [tried] absolutely to win the game. Dortmund scored in Marseille in the last second which [denied us] first place.
"The second regret I have in this competition is having to play with 10 men against a team like Bayern Munich at home. That was my biggest frustration in this competition and I think it was an unfair decision."
Wenger guided Arsenal to FA Cup glory, but their deficiencies were highlighted on numerous occasions in the Premier League - where they suffered heavy defeats to Chelsea, to Manchester City and to Liverpool.
Wenger, though, believes that, had it not been for Wojciech Szczesny's 37th minute dismissal in the first leg against Bayern, then Arsenal could have progressed all the way to the final, instead of one of Atletico Madrid or tournament winners Real Madrid.
"It leaves a lot of regrets open because I said at the time that we could have knocked Bayern out and I'm convinced still of that. If we had knocked out Bayern we would have been of course completely confident to go to the end [of the competition]. But it shows you it's very tight.
"It has shown again that in these kind of games your goalkeeper will have to make saves and be lucky on one or two occasions. Your offensive players, somebody will have to turn up to do something special. That's what these games are down to.
"The goalkeeper and the striker becomes massively important in these games."