Join the debate at #bbcfootballpublished at 21:19 Greenwich Mean Time 9 December 2014
Harry Stephenson:, external Coutinho is on 73 minutes too late.
Liverpool fail to reach knockout stage
Reds go into Europa League
Gerrard scores sublime free-kick
Substitute Markovic shown straight red
Tom Rostance
Harry Stephenson:, external Coutinho is on 73 minutes too late.
A bit of head-scratching on the BBC Football desk as we try and work out where Philippe Coutinho is playing. The answer is a lot deeper than he should be. Raheem Sterling remains isolated and alone up front as the 10 men try and find a breakthrough.
Jake Saunders:, external Liverpool don't even deserve the Europa League. We're like a sickly old dog that just needs putting down.
Ben Oliver:, external Markovic will also miss LFC's next three Champions League games as well, that's the funny side of it.
Basel have been as impressive as Liverpool have been underwhelming tonight. The Swiss side look well in control as we approach the last 10 minutes. A draw would still be enough for them to go through.
James in Midhurst: Liverpool being found out tonight and this season. Carried by Suarez last season as we all said. Drawing board beckons.
Chris in Tonbridge: Basel right back has been in Liverpool half more than Moreno and Johnson put together
Philippe Coutinho is on for Liverpool, holding midfielder Lucas makes way, while Basel hand teenage strike sensation Breel Embolo the last 15 minutes.
Ashton Moore:, external If Liverpool get through to the next round now, I'm calling my first child Brendan. Regardless of gender.
Steven Gerrard now pretty much playing up front and he cracks a shot well wide from 25 yards. Hit and hope time.
We have just over 15 minutes left though. Plenty of time. In theory, anyway.
Ian Dennis
BBC Radio 5 live senior football reporter at Anfield
"The crowd are now further enraged with the referee as Gerrard tried to go around the keeper and was felled.
"But, it looked as though he got a touch there ahead of Gerrard despite the Kop's cries for a penalty."
Liverpool start to commit men forwards, Steven Gerrard gets through for the first time and goes down! Is that a penalty?
Nothing given by referee Bjorn Kuipers, and the replay shows it's a great call. Goalkeeper Tomas Vaclik got to the ball first, pushing it against Gerrard and away.
Arsenal fans hoping for a landslide win to overhaul Borussia Dortmund at the top of the Group D can, at least for the moment, put away their calculators.
The Germans are back two points clear at the top as it stands thanks to Ciro Immobile, who rattles home a finish from Nuri Sahin's pass.
As it stands, Basel will join Real Madrid in the last 16. Liverpool heading into the Europa League.
Ian Dennis
BBC Radio 5 live senior football reporter at Anfield
"A tactical change now with three at the back. Moreno has pushed on in to the midfield and Henderson now on the right of midfield."
Martin Skrtel gets the ball in space 35 yards from goal, he has little or no options ahead of him so has a swing at it and cracks a drive just wide! Good hit.
Shooting from range looks like the only dish on the menu now though.
Liam Mullane:, external At least we know what Rodgers' excuse will be at FT. Papering the cracks
Ricky Lee Everett:, external That's the daft red card you'd expect from Super Mario, what was Markovic thinking? #donut
Dejan Lovren is into the book now for a cynical tug on the dynamic Taulant Xhaka. Liverpool have 24 minutes left to save their Champions League campaign.
Will in East Dulwich: I hope Rodgers doesn't use that decision as an excuse. Liverpool are poor and his team selection worse still.
Phil McNulty
BBC Sport chief football writer at Anfield
"Desperate for Liverpool now. Complete over-reaction from Basel's Behrang Safari but what on earth was Lazar Markovic thinking about? Even more frustrating because he had actually shown signs of why Liverpool were tempted to spend £20m on him in the summer."
Alex in Fulham: Unbelievable decision. Think these European referees are far too soft...
Luke in Portsmouth: Unfortunately, that's the state of European football. They are, and always have been, far more open to gamesmanship - we English refuse to sink to this level, but often it's too our detriment.
I'm not sure that's always the case Luke!
Cristiano Ronaldo is just two behind Lionel Messi's Champions League goal tally of 74 following his first-half penalty. At home to a Ludogorets side who are down to 10 men, should be a shooting gallery, but so far the Bulgarian side are riding their luck and are just 2-0 down in the Bernabeu.