Chairman Steve Hollis has informed Aston Villa supporters that the process to restore the good times to the relegated club is already underway.
Yesterday's 1-0 defeat away at Manchester United confirmed that bottom-placed Villa would next season be playing in English football's second tier for the first time since 1987-88.
However, while Hollis admitted that the frustration is understandable, he stressed that plans are in position to restore the one-time European Cup winners to their "rightful place".
The statement in full read: "First, on behalf of the board, let me express my deep regret that I find myself writing this open letter to you, knowing just how much hurt and pain, anger and anguish will have been felt by you all after the club lost its Premier League status this weekend.
"Your profound sadness is shared by everyone connected with the club and while I know that will be of little consolation in the days ahead, it should be a source of reassurance as we rebuild the foundations for future successes.
"We must acknowledge that this weekend's confirmation has been the culmination of an unacceptably fractured season both on and off the pitch. That isn't down to bad luck. To make such a claim would be insulting to each and every one of you. I must add you have all displayed unyielding commitment in adversity.
"While it is of little solace at present, the process of identifying the root causes of our circumstances started long ago and the focus now has to be looking forward and making sure lessons have been learnt.
"The search for a new manager to provide drive, direction and immediate promotion has commenced. Together, we share the same goal. We intend to restore Aston Villa Football Club to its rightful place. It is a journey we must make together so we can bring success, enjoyment and exciting football back to Villa Park once more."
Villa were one of just seven teams that had never been demoted since the Premier League's inception in 1992.
