Schmeichel does not believe Hughes’s Manchester City will break into the top four this season.
He told the Sunday Mirror: “It’s too late for Mark Hughes to take over as United boss. He will never get a chance now.
“I don’t think any United fan likes to see somebody who’s been at City as their manager.”
“City are not on level terms,” he continued. “In a one-off match anyone can win. Even Burnley can beat United.
“But can City realistically win the Premier League? This year, no.
“And can Mark Hughes go toe to toe with Fergie? No. But I don’t think anyone can do that. For me Sir Alex is the greatest manager of all time.
“Anyone stepping up to the United job has got to win 24 or 25 trophies. And so far Mark hasn’t won any.
“He’s taken them to the next level but he’s under incredible pressure. If he’s not good enough maybe someone else will be get the chance there.
“To win consistently you need everyone on board – tea ladies, bus drivers, fans. United for some reason always have a blip after Christmas – then they always end up winning.
“That’s experience. City don’t have that experience. It takes time.
“It took United a long time to win it after Sir Matt Busby. It takes a perfect manager who knows exactly the right things to do.
“So it’s too early for City to start talking about the top four, the Champions League or titles. United have a currency that City don’t have. They have the Manchester United brand.
“As far as the players are concerned it’s about success. City have to pay over the odds to get players because they haven’t got that.
“They have got unlimited funds so they will get closer and closer. They can pay somebody £160,000 a week.
“But for a top player there’s no difference between that and 80 grand. He’d rather have the experience of winning the Premier League or the Champions League. Just because you have all the money, it doesn’t make you champions. That is something you have to earn.”