It was the first time Hird has spoken publicly since his suspension.
The greatest scandal in AFL history came to a head when the league announced massive penalties for the Bombers.
Hird was banned from the league for 12 months and the club was taken out of this year's finals series, as well as losing draft picks and copping a A$2 million fine.
Senior assistant coach Mark Thompson was fined and club football manager Danny Corcoran was suspended for four months.
Hird will return to coach Essendon once his suspension is over and he hopes Thompson will fill the role during his absence.
Thompson has made it clear he does not want to be a senior coach again.
"We'd all like to see Mark Thompson do it - he's the obvious choice," Hird said. "That will be a decision for the club and Mark."
Hird added he felt the club had been unfairly dealt with since the Bombers came under investigation on February 5.
While the AFL has handed down its penalties, an Australian Sports Anti-Doping Authority investigation is ongoing.
"I am really sorry, dreadfully sorry, about what happened, that it had to go through this," Hird said of Essendon. "The way it has been treated, I don't think is fair."
Last Thursday, when the AFL and Essendon were at war over the crisis, Hird took out a Supreme Court writ against the league.
Hird's decision on Tuesday to withdraw that writ was one of the key elements in the AFL Commission finally being able to confirm its punishments.
"It's time to move on - really, the game needed to move on," he said.
"It wasn't good for anyone in the game and particularly our players and our club.
"Fighting a battle in the Supreme Court against the AFL on a matter of principle I just think was probably not the right thing to do for our players and even for myself and my family."
Hird said he told the Commission on Tuesday night that he was deeply sorry for what happened at the club last year.
He took "a level" of responsibility for what happened.
Hird said it had been a trying time for everybody, especially the club's players.
"Speaking to the players last night and speaking to them this morning, I think we're all disappointed at the level of sanctions that have been put on the club.
"But we understand that some sanctions had to be placed on our club and it's time to move on.
"From my point of view, it's disappointing not to be coaching next year.
"But I should've known what was going on. I should've done more and I'm very disappointed that I didn't," he said.
Under the penalties, Essendon will finish ninth for the season and it means Saturday night's match against Richmond is a dead rubber.
Asked if he felt any relief now his penalty had been decided, Hird said he was still trying to come to terms with it all.
"It's been so raw," he said.
AAP
