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The Australian television personality, who is best known as one of the hosts of Channel Ten sports show Before The Game, was sued by Nicole Cornes, the wife of former AFL Crows coach Graham, after implying that she had slept with footballer Stuart Drew in 2008.
Ten bosses have now been ordered to pay Cornes $85,000 (£57,000) in damages after she won her battle in court this week.
Molloy said yesterday on Triple M's breakfast radio show: "Obviously I'm very disappointed with the decision. I've been broadcasting for 25 years and I've never been sued. Before The Game is a very good-natured show, it's a light entertainment programme. It's a comedy programme. Kids watch it with their parents.
"There is never any malice in this show. We never set out to pot anyone based around football. It was intended as a joke, it was never meant to be anything other than a joke. Unfortunately the court has seen it differently and I can't do anything about that.
"I'm very disappointed, I'm very sorry it has happened. I can't say much more because I will go and speak to the lawyers and see what happens. When I found out that her feelings were hurt I apologised on air and I didn't have to be asked to do it."
After the allegations first surfaced, Cornes said that Molloy's comments made her feel like a "dirty joke", adding: "I felt that they were sexually ridiculing me for conduct that never happened. I was really upset."
Last year, Molloy caused outrage by making jibes about gay figure skater Johnny Weir during coverage of the Winter Olympics. He later denied being homophobic and admitted that he has been "no stranger to controversy" throughout his career.
