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England's hopes of lifting the Euro 2020 trophy were crushed on Sunday after Italy mounted a stunning comeback at Wembley.
Harry Kane and Harry Maguire took England's first and second penalties respectively and successfully converted past Gianluigi Donnarumma.
Marcus Rashford then stepped up and missed from the spot-kick before Jadon Sancho and Saka's penalties were saved by Donnarumma.
Rashford, Sancho and Saka have all been subjected to horrific racist abuse on social media, which the Football Association denounced as "disgusting behaviour."
England manager Gareth Southgate has been blasted by furious fans for letting Saka take the decisive penalty against Italy.
Saka, 19, has been in sensational form at this summer's Euros and impressed England fans with his performances for the Three Lions.
Speaking after Italy's Euro 2020 triumph, Keane admitted that he was sympathetic towards the Arsenal starlet over making the daunting walk to take England's crucial penalty.
However, the 49-year-old Irishman was left perplexed at why Sterling or Grealish didn't step up for the penalty in place of Saka.
Keane told ITV: "If you're Sterling or Grealish, you cannot sit there and have a young kid walk up ahead of you.
"You can't sit there and see a young kid, 19, a child walk up in front of me and I've played a lot more games, a lot more experience.
"Sterling's won trophies, I'm not saying he wasn't prepared. Gareth might have been thinking you're going to be sixth or seventh. You can't sit there. That must be hard to take.
"You've got to get in front of this young kid and say listen I'll step up before you."
Italy star Leonardo Bonucci pulled no punches towards England fans after he brutally trolled them during his side's lap of honour.
The 34-year-old Juventus defender also mocked Three Lions supporters' 'it's coming home' slogan by screaming down the camera 'it's coming to Rome.'
Despite Keane's criticism of Sterling and Grealish, Southgate took full responsibility for England's defeat and decided on the order of the penalty takers "based on what they have done in training."
The England manager explained: "That is it is down to me, I decided on the penalty takers based on what they have done in training and nobody is on their own.
"We have won together as a team and it is on all of us together to not be able to win the game tonight and in terms of penalties it is my call and it totally rests with me."
Featured Image Credit: ITV/PA
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