Rosen Barchovski left his post as coach of Bulgaria after missing out on automatic qualification for EuroBasket 2007.
Bulgaria lost 79-50 in Sweden to end their campaign bottom of Group A and Barchovski confirmed he will no longer be in charge of the side.
|Todor Stoykov played well in the EuroBasket qualifying round.|
Barchovski admitted that preparations for his side's qualifying campaign were far from perfect and highlighted the home defeat to Sweden on September 5 as a turning point.
He said: "We ended the qualifications very badly and I'll need some time to finish analysing things.
"The reasons were both purely sporting as well as psychological. We didn't play well. We also maybe made a mistake in the preparations for the qualifications and the motivation.
"All went downhill from the game with Sweden in Varna. We underestimated the opponents - all of us - from the coaching staff to the players."
Barchovski believes that eventual group winners Poland were fortunate to top the group and felt all his players let themselves down.
He said: "My opinion is that the weakest side from our group made it through. I have my critical remarks for everyone, except for Todor Stoykov, who was perfect from day one of the preparations until the very last game."
Forward Stoykov was disappointed to see the Bulgarians crash out and felt that they had failed to move on from their achievement of qualifying for EuroBasket 2005.
He said: "Unfortunately some teams have grown, while we remained at the same level - I have no idea why this happened."