The 44-year-old had seen his dreams of adding the title as a coach to the one he won as a player in 1988 — beating the Soviet Union 2-0 — destroyed by a Russian side, coached by another Dutchman Guus Hiddink.
"I told them (Russia) they had played very well, I gave them my compliments when I went into the Russian dressing room," said van Basten, who was unable to deliver like previous coaches had failed to do a title for the multi-talented but perennial under achievers.
"They have a great chance, the way they played is very good, they have a good chance of winning the tournament.
"They deserved it, they played very well," added van Basten, who guided the Dutch to the second round of the 2006 World Cup.
Van Basten, who formed one third of the superb Dutch trio that made AC Milan such a force in the late 1980's and early 90's with Ruud Gullit and Franck Rijkaard being the other two, admitted he was perplexed at why the Dutch had failed to reproduce their form from the group stage.
"In the group stage we played good football, but we didn't play to such a high level as that on Saturday," said van Basten, whose side had beaten world champions Italy 3-0, 2006 World Cup finalists France 4-1 and Romania 2-0.
"I don't understand the performance, most of the team had a full week's rest and we should have been in better shape than the Russians (who played their last match against Sweden on Wednesday) but we didn't see it and that was a pity."
While van Basten admitted that not having the fragile Arjen Robben available for selection was a blow — he had picked up another niggle on Friday — he added the defeat could not be put down to just that.
"We didn't start well, we didn't play as well as we did in the first three matches, I don't know why, a bit of nerves I think.
"In the second half we brought Robin van Persie in for a bit more depth, but the Russians played very well.
"We had a lot of problems with their attackers, it was why we didn't come out well."
Van Basten thought that once Ruud van Nistelrooy equalised late in the second-half — taking his overall tally to 33 goals and level with Johan Cruyff — there was a spark of hope, but that soon dissipated.
"Finally at 1-1 we had a little bit of hope, which helped us in the last part of the second half.
"We had a lot of problems physically, the Russians were much stronger and we couldn't hold them at 1-1.
"We just couldn't hold it anymore."
His players concurred with his overall appraisal and left them also bemused as to how they had left their vibrant form behind them.
"We were really bad today (Saturday), we lost too many one to ones and made too many bad passes," admitted defender Joris Mathijsen.
"We played really well in the first round and I don't understand why that didn't work on Saturday.
"The Russians were really outstanding. This Russian side is really strong."
For Dutch caps recordholder Edwin van der Sar it was a sad way to bow out of international football after 128 appearances.
"We were not good enough to beat this Russian side," said the 37-year-old Manchester United guardian.
"One has to admit it, they played fantastically well.
"It is really a pity to leave the tournament in this way after having started so brilliantly.
"Now, we have to confront the future.
"But it will be without me. This evening, one shouldn't criticise anybody, it isn't the time to point fingers at anybody."
With the febrile nature of Dutch football and with such high expectations as ever in a big tournament having been dashed once again, it is probably just as well that van Basten is leaving, for the finger pointing won't take long to start.
AFP
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