The St Johnstone striker was targeted by Ally McCoist to bolster his forward line, and was offered the chance to move to Ibrox when his contract expired in the summer.
However the Spaniard rejected the deal out of loyalty to the Saints and now says he is lucky he did.
Sandaza told the Daily Record: "I feel sorry for Rangers because I like them.
"I've personally made a good decision but I wish them all the best. Nobody wants to be at a club in administration.
"I decided I wasn't going to sign a pre-contract. My only doubt was whether I moved in January.
"I wanted to wait and I thought it was only right for St Johnstone that I didn't sign a pre-contract with any other club.
"That's just as well because if I had signed a pre-contract the paper would be worthless.
"But I hope they come out of that situation because they are a great club and everybody would like to play for them, even though at the moment they are having a hard time."
The 27-year-old refused to rule out moving to Ibrox in the future though, should the club's financial problems be sorted.
He added: "It depends on the situation they are in but I've never said I don't want to play for them. They are a big club."
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