Wright suggests the incident was not publicised before United legend Ferguson one day indicated the Gunners great was 'playing the race card'.
"That business with me and Manchester United's Peter Schmeichel was a case in point," Wright wrote, as serialised by The Sun.
"In November 1996 during a game he yelled at me, "You f***ing black b*****d." It turned out to be a blatant case of sweeping it under the carpet. (Schmeichel has always denied saying it.)
"The following February, I did go in hard on Schmeichel, but he made a meal of it.
"After the second game, I met then Old Trafford chief Alex Ferguson.
"He said: 'I never had you as a race card player.'
"That particularly upset me. I told him I wasn't, but I don't know if he believed me.
"I lost a bit of respect for him that day."