The Crues fought back from 1-0 down at half-time in the second leg to lead 3-1 which forced extra-time but Jordan Owens' miss led to Caernarfon winning the shootout 8-7.

Baxter described the shootout defeat as "a horrible feeling".

"We went after it and to score three goals and to almost score a fourth, which would have taken the tie away from them," said Baxter, who took charge of the Crues for one final time with new manager Declan Caddell not having the required European licence.

Baxter also felt his side had been denied a "loud shout" for a penalty in extra-time after a Jay Boyd cross appeared to hit the arm of a Caernarfon.

As for the future, Baxter says he will now take "time out" but hinted he could be back in an Irish League dugout before too long.

"We’ll reflect and whenever I’m bored, which could be in a month who knows, I might turn around and if the right offer comes along I might look at it."