Tottenham needed at least a point from their game with Monaco on Tuesday but instead fell to a 2:1 defeat.
The result means they can’t take the second spot even if they win their game against CSKA Moscow at Wembley next month.
Spurs had started the game on a bright note and could have been ahead on 6th minute but Son Heung-min could only direct the ball out wide.
Lloris had a good match and made some superb saves. Starting with a Falcao low spot kick which looked destined for the back of the net before Lloris dived to stop it.
Lloris also made a good double save to deny the Monaco duo -Ben Mendy and Valere Germain- minutes later but it was not enough to keep Tottenham in the competition.
Harry Kane had converted a spot kick to cancel out a Djibril Sidibe goal only to concede a goal less than a minute later which proved to be the match winner for the French side Monaco.
And Pochettino had this to say after the match: “Maybe we did not show enough quality in five games to be competitive in the Premier League, and be unbeaten like we are, and also compete in the Champions League.
“It is good for us to learn – next season if we are in the Champions League maybe we need to make some changes.
“It was a good challenge for us to compete and show our real level. That is always important.
“After two-and-a-half years we have closed the gap at the top of the Premier League and that was the objective.
“But to be competitive in the Champions League we need to show more and add more quality into our squad.
“We feel bad now, maybe disappointed, but tomorrow is another day and we need to compete against Chelsea on Saturday.”