Plymouth chairman Sir Roy Gardner insisted he was proud of the way his club "fought to the end" after relegation from the Championship was confirmed.
Argyle's six-year spell in the second tier came to an end when they lost 2-0 to Premier League-bound Newcastle, who also clinched the title at Home Park.
Gardner said: "Like all Argyle fans, the board of directors are bitterly disappointed we have suffered relegation. We are proud of the way our team fought to the end and that our great Green Army never gave up on us - but, ultimately, we fell short."
He added: "Of course, we need to regroup and to take time to review the events of this season. However, while it will benefit us to identify areas which contributed to our downfall, we cannot afford to dwell on them.
"What is most important now is how we react to this relegation. If we can learn from our shortcomings then I have every confidence we can be stronger for the experience and bounce back next season.
"I and my fellow directors chose to come to the club because we had a vision of bringing Premier League football to Plymouth. This might seem a long way away but we believe we can fight our way back.
"We have already been in discussions with our head coach Paul Mariner about next season and these discussions will continue. We also intend to develop the ground in a way that will make match-day a better experience for our fans and also to increase the possibilities for generating revenue on non-match days.
A new stadium is an essential part of our forward-planning and reflects the scale of ambition at the club. We expect to start redeveloping the stadium, beginning with replacement of the old South Stand, at the end of next season."
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