United are closing in on a Barclays Premier League and European double and Schmeichel believes the current team has more potential than his treble-winning class of 1999.
"This team can potentially achieve more than we did. Everything came together for us in 1999," he said. "You have to remember England missed five years of European football.
"We struggled to find a way to play in Europe and the Premiership. That took a long time.
"Now Sir Alex is focused on signing players who are better equipped tactically.
"Guys like Nani and Ronaldo, who all play in the Portuguese league where tactics are very important."