Schmeichel has insisted that he feels it's extremely unlikely that the 27-year-old will be sold by the Premier League champions.
"I don't think Wayne is going anywhere," he told talkSPORT. "Manchester United do not sell their best players. We shouldn't sell any player rated in the best 10 in the world.
"I don't see any player out there better than him so why would you sell him.
"I think 95% of all of this has been media speculation.
"I think something which is really important here is that Wayne is still at the club which means if Manchester United wanted to get rid of him they would have done that a long, long time ago.
"They know what impact a player of Wayne's calibre has on the football club and the speculation that follows that."
For the big stories and the banter follow us on Twitter: @tribalfootball