Arsenal now has just the FA Cup left to bring silverware to the Emirates.
Despite the devastating loss to Olympiacos, Mikel Arteta is spearheading a return to form for Arsenal and it is likely that many Arsenal fans will look back at this season as the start of a new era.
The end goal was finishing inside the top four, however, a poor start to their season has made it almost impossible for that to happen.
And of course, the Europa League is now gone.
But the good news is that Arsenal still has one competition left that can still provide a successful end to the season.
They still have a good chance of winning the worlds oldest domestic cup competition and their recent fine run of form puts them in a good position to go far.
Winning the trophy would give the players the hunger to go for more and that can be the fuel that pushes them to target even more success when next season begins.
It is not the same as winning the title or a European trophy and not as financially rewarding as qualifying for the Champions League but it is silverware nonetheless and once a player gets a taste of that it can become contagious.
It may not be enough to keep Pierre-Emerick Aubameyang at the club but it will lift spirits no end and that could be the trigger that Mikel Arteta is looking for to reinvigorate the club.
Right now, fans will be depressed after last night but that will soon be forgotten in a few days and the FA Cup is still something to look forward to.