City had a £55million bid for the Arsenal forward accepted last week but the Gunners' failure to find a replacement saw the switch collapse. City goalkeeper Bravo was with Sanchez on international duty at the time and witnessed his reaction.
"We were talking in Chile. He went from happiness to bitterness in a few hours, although it's all in the past now. The transfer didn't happen because a player didn't go to Arsenal and everything collapsed.
"We would have loved to have him here, but the market gives you these time limits and the rush is not good. This time it was not possible, but hopefully we have him here in the future."
Bravo was speaking after being called into action as a substitute during City's 5-0 Premier League defeat of Liverpool on Saturday. Bravo has begun the season on the bench following City's £35million summer signing of Ederson from Benfica.
Ederson was injured in a nasty collision with Liverpool's Sadio Mane during the first half and had to be carried off on a stretcher.
The clash was accidental but Bravo felt Mane, who was sent off after catching Ederson in the face with a high boot, could have done more to avoid it.
Bravo said: "You go from being on the bench watching the game and within seconds you are out there playing. Us goalkeepers know this can happen but you never expect it. I wouldn't have wanted to play for a reason like this.
"These things are avoidable, you can easily avoid putting your foot in somebody's face so you don't do them damage. At first I thought that he had hit him in the hip, but then I saw clearly that he got him with the face."
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