Fabian Frei’s 25th minute strike cranked up the heat on Brendan Rodgers’ pressure cooker as Liverpool’s flash in the pan Champions League campaign finished with a fizzle.
Frei fired in from the edge of the box after a neat one-two with Luca Zuffi to knock out the five time champions at the group stage despite Steven Gerrard’s equaliser.
Gerrard, hero of that night against Olympiakos on this day 10 years ago, dragged Liverpool level with a trademark free-kick eight minutes before the end to ensure a tense finish.
Rodgers’ reds were repugnant up until their goal though and their performance left a sour taste in the mouth in front of an expectant Anfield crowd that produced a fiery atmosphere pre match on an ice cold Tuesday night.
Substitute Lazar Markovic boiled over just after the hour, sent off for flailing an arm into the face of Behrang Safari who went down like he had been shot like a poacher after minimal, if any, contact but the malice from Markovic was clear to see and the Serbian was shown his marching orders.
Martin Skrtel of all people fashioned an uncharacteristic effort from distance that narrowly swerved past the woodwork shortly after Taulant Xhaka shot wide at the other end.
The Liverbirds did produce a late flurry that left all those watching with their hearts in their mouths but ultimately came up short.
Gerrard and Jordan Henderson forced fine saves in the final five from the Basel keeper but finished third and go into the Europa League.