Carragher: Top four failure no disaster for Liverpool
The financial ramifications of missing out on the Champions League could be huge, but Carragher sees no reason why the Reds cannot bounce back stronger next year.
The long-serving defender said: "It is nothing new if we don't get there. We haven't played in it before, people forget that.
"If we don't get there we will just come back next season. People are saying if we don't get there that will be us as if we will never get there again. That is nonsense.
"If we don't get there this year, I'm sure we can't be as bad next season as we have been this.
"The Champions League is a big thing, you want to be in it and the revenue it generates is a massive thing.
"But who knows what the future will bring? We are a massive club and we will get back in it next year, I am sure of it."