The organisation claim the former Cardiff boss was "letting off steam to a friend during some friendly text message banter"
Cardiff filed a dossier to the Football Association (FA), alleging misconduct between Mackay and Iain Moody, who resigned from his position as sporting director at Crystal Palace on Thursday, and the Football Association have confirmed to Perform they are to launch a probe into the claims.
The LMA has released a statement with regard to the scandal, stating that Mackay was simply "letting off steam to a friend during some friendly text message banter".
"The LMA wish to clarify the position in relation to recent reports and speculation regarding matters alleged to have arisen during Malky Mackay’s time at Cardiff City FC," the statement read.
"In the course of a search by the club in early 2014 of 10,000 private text messages sent to and from another member of staff during Mr Mackay's employment at Cardiff, in relation to other matters, it emerged that Malky had, it seems, sent a couple of one line texts that were, with the benefit of hindsight, very regrettable and disrespectful of other cultures.
"These were two text messages sent in private at a time Malky felt under great pressure and when he was letting off steam to a friend during some friendly text message banter.
"That said, Malky believes he could and should have conducted himself better on these two isolated occasions. The precise details need to remain private for the time being until any FA process is complete.
"The LMA does not condone in any way any potential breach of equal opportunities laws but would also point out that out of over 10,000 text messages and 70,000 documents produced over a long period of time it may not be a complete surprise that some inappropriate comments can sometimes be made by employees, like Malky, working under great pressure in highly charged situations.
"If Malky has caused any offence by these two isolated matters he would, however, wish to sincerely apologise."
The statement also said Mackay found the timing of the revelations "strange" and also aimed fire at media reports.
"Malky is also very concerned about seriously inaccurate and misleading reports of his alleged involvement in these matters in the media," it continued.
"It has never been alleged that he wrote any homophobic or sexist messages and he has confirmed that he did not do so.
"Further, there are incorrect and damaging suggestions that he sent a whole host of offensive and unpleasant messages that are simply not true and which give a grossly distorted and unfair view of Malky's involvement in this matter.
"Malky looks forward to matters being put straight in due course, following any investigation of this matter."
The LMA added that Mackay could not comment on the conduct or communications made by others and that he would be "fully co-operating" with any FA investigation.