United first-team coach Rene Meulensteen had branded Chelsea's squad 'too old' to provide any real competition for the title this season.
However, Ferguson is not of the same thinking and believes Chelsea will be up there challenging as he has a lot of respect for their experienced squad.
"They have tremendous experience with the likes of Frank Lampard, Didier Drogba, Petr Cech, John Terry, Alex, Nicolas Anelka, Fernando Torres - there aren't any young kids in that team," Ferguson told Inside United.
"But they don't have 36 or 37-year-olds like Ryan Giggs. Lampard and Drogba are 33, Anelka is 32 - not dissimilar to (Michael) Carrick and Rio Ferdinand, and we wouldn't be saying they are dead and buried, would we? So why should they be?
"They'll still be a big threat and we expect them to challenge."