Pep Guardiola has insisted there were no regrets after Manchester City’s bid to retain their Champions League crown ended in a heartbreaking penalty shoot-out loss to Real Madrid.

The holders were beaten 4-3 on spot-kicks by the Spanish giants after their quarter-final tie ended 4-4 on aggregate – 1-1 on the night – despite a dominant display from Guardiola’s side in the second leg at the Etihad Stadium on Wednesday.

City fell behind early to a Rodrygo goal but created a host of chances as they sought to regain control of the tie, but Kevin De Bruyne’s 76th-minute equaliser was their only reward.

“I would have preferred to win but congratulations to Real Madrid, they defended so deep with incredible solidarity and we did everything,” City manager Guardiola said.

“I don’t have any regrets about what we have done.

“Always we try to create more chances and concede less, because we believe that helps you to win.

“We played exceptionally in all departments (but) unfortunately we could not win.”

Bernardo Silva and Mateo Kovacic missed in the shoot-out, with the former’s effort proving a particularly comfortable save for Madrid keeper Andriy Lunin.

Guardiola refused to blame the Portuguese for his failure to register.

“Bernardo asked to take it, he’s a reliable player and decided to shoot in that way,” he said.

“What a game he had played. It happens.”

City’s loss ended their hopes of winning a second successive treble and they must now pick themselves up for Saturday’s FA Cup semi-final against Chelsea at Wembley.

“We will see how people will react,” Guardiola said.

“The recovery is easier when winning, rather than losing, but it is the semi-final of the FA Cup and we will try to compete as much as possible.”

The tale of the tape in this game — 33 shots to Real’s eight, and such dominance in possession that their pass count, 919, was more than double the 458 achieved by Carlo Ancelotti’s side — only served to emphasise how City can smother and suffocate an opponent.

Kevin De Bruyne with a golden chance to finish off the tie for Manchester City

They failed to capitalise on their dominance, and Real produced a performance more associated with a heavy underdog by defending deep, attacking on the counter and relying on the outstanding display of their goalkeeper Andriy Lunin to stay in the game.

Foden missed the ball in extra time

Real manager Carlo Ancelotti admitted the strength of City had forced his side to soak up pressure and look to take the tie on penalties.

“We defended really, really well. This was about survival,” Ancelotti said.

“Madrid is a club based on always fighting to stay in situations where there seems to be no way out – but we always find a way.

“By the time the penalty shoot-out came, we were totally convinced we’d go through.”