The west Londoners needed three points for any realistic hope of avoiding relegation but never gave themselves a chance with a half-hearted performance at the Britannia Stadium that meant Sunday's match against Crystal Palace has nothing but pride riding on it.
"We as a team, and I include myself and management, would like to apologise for our bad performance on Saturday," the 60-year-old said on the club website (www.fulhamfc.com).
"It certainly was not what you as fans were expecting and should rightfully demand of us, but we were unable to perform on the day, resulting in our downfall.
"The support that you have given us has been exceptional and is much appreciated. I do realise that you have been through difficult times this season, but you have continued to be our ever-faithful 12th man and I cannot praise and thank you enough."
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German Magath is the club's third manager this season after Martin Jol and Rene Meulensteen were both sacked.
He arrived with the reputation as a hard task-master and having never suffered relegation as a manager but was unable to inspire enough of an upturn in form, leading them to three wins in his 11 league matches in charge.
Magath was appointed on an 18-month contract by owner Shahid Khan, the American businessman who brought the club from Mohamed Al Fayed, and the former Bayern Munich manager said he was committed to ensuring a swift return to the top flight.
"The reality is that we have been relegated, but my commitment and desire to Fulham remains," Magath said.
"In the short space of time that I have spent here, I have been very impressed with so many aspects of our football club, and with this in mind my one priority is to give Premier League football back to you.
"During the summer months there most certainly will be many changes within the club. We obviously need to improve and redefine our playing staff. We have in our academy team, talented, young and hungry players.
"I have experienced on many occasions, through working and developing youth team players, that they have the possibility to become top professionals, I name for example Philipp Lahm from Bayern Munich. Bearing this in mind and making additions to our squad, I feel very optimistic for the future."
Fulham suffered a last-gasp 7-6 aggregate defeat to local rivals Chelsea in Monday's FA Youth Cup final.
(Reporting by Josh Reich, editing by Mitch Phillips)
