County 'fell short' and will suffer 'financial hit'
County finished the season with a dismal run of 11 matches without a win, culminating in a dramatic play-off decider where a rampant Livingston side came back to win 5-3 on aggregate and snatch the final Premiership slot from their grip.
It is a result which ends the Dingwall side's six-year stay in Scotland's top flight.
"There's no excuses from anybody at Ross County – we fell short," said Ferguson.
"But it's a collective we. It doesn't just fall on the manager, it doesn't just fall on the players, we need to look at the whole club and everybody that's involved and we need to take responsibility for it and we will do that."
Martindale's belief rewarded as Livingston roar back to Premiership in play-off
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Ferguson insists "it's very early" when asked about manager Don Cowie's future, but that he "is in all the discussions we're having just now".
"First and foremost we'll need to look at the playing squad and guys that are out of contract will need to be spoken to so they know exactly where they stand," he added.
In March, County were one of several contenders vying for a final top-six berth, a battle that quickly turned into a slide towards the Championship.
"We have underachieved this season and that's not something that happens too often," Ferguson said. "In my time at Ross County we've always managed to get to where we want to be.
"We'll look at it, honestly appraise it, see how we can pick the bones out of it and move forward."
As jubilant Livingston supporters engulfed the Dingwall pitch, there was no hiding the sorrow on the faces of their dejected hosts.
The hurt was visible on local boy Cowie's face as he watched the elated visitors celebrate on their turf, a pain according to Ferguson that will be felt throughout the club and wider community.
"We aren't a big staff up here," he said. "Everybody feels it and it has a ripple effect.
"What we need to realise as well is that it's not just on the pitch.
"To not have any representation for this area has a real knock-on effect for everybody, not just the supporters, but the local business and the revenue that comes into the Highlands because of Premiership football."
And like most clubs who suffer demotion, Ferguson said County will pay the price, although he hinted chairman Roy MacGregor will provide funds in an attempt to bounce straight back up.
"There will be a financial hit, you can't hide the financial hit from dropping out of the Premiership," he said, explaining they will look to minimise the "pain regarding people's livelihoods".
"To be successful in the Championship there needs to be investment. You also need to be really smart about how you go about your business as it's an extremely difficult league with clubs that deserve a lot of respect, big fan bases and city clubs in there as well."
Ferguson has been here before, of course. He was part of the management duo that achieved that very task in 2019, when he and Stuart Kettlewell navigated County back to the Premiership in one season. Something they are obviously hoping to replicate again.
"That goes without saying," he said. "The clubs in the Championship are big clubs and they are clubs with ambition and we'll need to match and better that if we want to be successful. That's something we'll need to work out how we do.
"At the moment it's obviously really raw, Monday's result, and we'll need to let the dust settle.
"We need to be really honest about what happened this season and we need to find a solution and find how we can do it better."
Stephen: Got what we deserved and saw it coming weeks ago.
Martyn: Abysmal form, overreliance on loan players. Aside from Josh Nisbet, Ronan Hale and Jordan White there was a lack of fight across the team in our most important game of the season. We deserved to be relegated unfortunately. Sadly we'll need to cash in on Hale as well. If Don Cowie goes, hard to see who would want the job.
Eilidh: No less than we deserve. Our defence is shocking. It's the fact we were 2-0 up which makes it painful. It's a loss for Highland football in general.
Rick: Being 2-0 up before half an hour, then losing 4-2 at home tells you all you need to know about County. We've been circling the drain for months. Dozens of 'must-win' games prior to this loss. Nothing more than we deserve.
Sean: Hope County do not follow in footsteps of ICT. Looks like they will have to improve drastically to bounce back up but a harder league to do that. Don Cowie is just too nice, they need a manager who says what it is.
Ronny: For the best part of three months, we have been rancid. Three relegation play-offs in a row suggests there's something broken in the football side of things. This has to be the worst one yet, given we were in the hunt for the top six until the final game before the split. Hale aside, we have been so, so poor from back to front and it's finally caught up with us.
Alistair: I thoroughly disagree with Don Cowie. He most definitely is not the right man for the job. I do not have any belief in him as manager at all and it appears neither do the players. He must surely be sacked now after this. He should have gone weeks ago. There is no place for schoolboy kick and rush football at this level. Livingston, well done. You thoroughly deserve to be promoted. County could not lay a glove on you.
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