Atletico Madrid manager Diego Simeone says he will "start thinking" about his future with the club after Saturday's Champions League final defeat.

Atletico lost 5-3 on penalties to Real Madrid after the match at Milan's San Siro finished 1-1 after extra time.

It is the second time in three seasons Simeone's side have lost to their La Liga rivals in the final, following the 4-1 extra-time defeat in 2014.

"Losing two finals is a failure," said the Argentine, in charge since 2011.

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Simeone - who guided Atletico to their first La Liga title since 1996 in 2014 - was linked with Chelsea before Italy boss Antonio Conte was appointed first-team head coach at Stamford Bridge.

In addition to reaching the Champions League final twice, Atletico have also won the Copa del Rey, the Europa League, Uefa Super Cup and Spanish Super Cup under the 46-year-old's leadership.

Asked if he had thought about resigning after Saturday's defeat, Simeone added: "I am thinking that I have to start thinking. It's a logical question for you to ask after a defeat like the one we've suffered today.

"We had the chance to become champions, we didn't take that chance. We need to continue working, I have to think things out on my part - that's what I'm doing now.

"What is clear to me is that nobody remembers the losers. We have to get over this and heal our wounds."