Wolves were beaten 2-0 on Monday evening at Holmes Park against a Leicester side who are top of Premier League 2, Division One.
Despite being disappointed with the result, Sellars believes there wasn’t much to choose between the two sides.
“To say their top of Division One, I wouldn’t say there was much difference between us and them - it’s about young players trying to earn livings and make the grade as professionals,” said Sellars.
"Leicester are a good team and I just thought that they had a bit more aggression in taking their chances and making sure it didn’t go in their goal, that was probably the difference on the night.
“It’s obviously disappointing, it’s a cup tie and you want to win.
Over the tie, I thought in the first half, Leicester were better. Second half, we started really well and we had one or two good chances that we didn’t take and then obviously when the second goal goes in, you’re chasing it a little bit.
“It was a difficult night to play with the weather and the pitch was heavy.
“There were some good moments but we didn’t have enough control and we probably got outmuscled physically at times especially with their strikers against our two centre backs, that caused us problems.
“I’m disappointed for the lads who probably haven’t performed at their best and then when we did have chances without performing well, we didn’t take them.”
Wolves went behind in the 18th minute through a Liandro Martis deflected effort but the away side did have chances as Benny Ashley-Seal and Carlos Heredia both rattled the crossbar with efforts.
Sellars believes that if his side would have been able to equalise, it could have been a different game.
He said, “we hit the crossbar and had one or two chances. If it goes back to 1-1 then maybe we could have got back into the game.
“At 1-0, they can hang on to it and then we’re pushing a bit more and they’ve caught us on the counter attack for the second goal and it was a bit of a mess for the second goal to be fair.
“As always, we’ll try and give everything we can in every competition.
“We’ve still got the league to go for and we’re still in with an outside chance of making the play offs so we’ll go for that!
“We always want to be competitive and we want the lads to be competitive and try and win games, if you beat Leicester you go into a semi-final but in football, you don’t always get what you want and probably one tonight’s performance probably didn’t deserve that.”
Wolves Under 23s have two more games this week as they face Middlesbrough on Thursday and then Norwich City, two games which give Sellars’ side to get back to winning ways.
He concluded, “with the weather conditions, we’ve had a lot of cancellations so we’ve got a game Thursday and a game on Sunday- it’s a quick turnaround and we go again.”
