Paris Saint-Germain president Nasser Al-Khelaifi has stopped short of confirming whether manager Laurent Blanc will retain his job as he promised a "new cycle" will start at the club this summer.
PSG completed a clean sweep of domestic trophies in France for a second year running but they limped out in the Champions League quarterfinals following a 3-2 defeat against Manchester City.
Al-Khelaifi said he sensed two hours before kickoff that they would lose the second leg of that tie and is unsatisfied with the season because they had come no closer to winning the competition.
"Honestly I think we failed this season in spite of the new trophies on a national level," Al-Khelaifi told Le Parisien.
"We didn't reach our European goal so it's a bad season. I've been here five years and it's the first time that we have this feeling of failure.
"It's not simply the fact that we lost in the quarterfinals of the Champions League that makes me say that -- it's the manner in which it happened.
"I'm very disappointed. We weren't ready mentally and we're all responsible -- myself first of all.
"I didn't feel pressure before the matches against Manchester City. It was completely different against Chelsea -- the players were nervous, they were hungry, they were ready. I didn't find that again against Manchester City.
"This elimination was the worst moment since I've been in Paris. It's still very difficult to accept."
When asked if he still backed his manager, Al-Khelaifi said he had supported Blanc for three years but that he would have to "ask myself the right questions" about what alterations should be made this summer.
He declared that it was "time to change" but would not clarify, when pressed, if Blanc would be around to oversee a new bid to realise the club's dream of winning the Champions League.
"I will not talk about particular cases at the moment," the PSG president said. "Big changes will take place, a new cycle will start -- you'll see. In any case, if we continue like that at every level, we won't get there."
The comments are likely to put further pressure on Blanc, who signed a new two-year contract in February but was criticised for his tactics in the 1-0 second-leg defeat against Manchester City.
Former PSG sporting director Leonardo has been linked with a return to the club in recent weeks, perhaps even as manager, but Al-Khelaifi said he was not part of their plans for now.
Meanwhile, Al-Khelaifi once again backed Edinson Cavani to make up for the loss of record goal scorer Zlatan Ibrahimovic this summer.
He said that Serge Aurier would not leave the club in this transfer window despite his latest off-field problem and that Hatem Ben Arfa was "an option" as a potential recruit.