Peter's son Kasper is the first-choice goalkeeper of the league-leading Foxes, and when asked if his son is feeling the pressure ahead of the title run-in, he told Sky Sports: "Kasper is coping really well. They are throwing the clichés out like: 'they are taking one game at a time' and 'they are enjoying their football', but it is the truth.
"They are really enjoying it, they have a fantastic squad, they are great friends and they do a lot of stuff outside football together."
Schmeichel Snr, who retired from the game back in 2003, admits he does not miss playing the game but does indeed miss the friendships made when playing with such a tight-knit unit.
"I have never had the urge to go back and play football since I retired, but when I see that camaraderie I am a little bit jealous," he added.
"It is a cliché but Leicester are taking each game as it comes and so is Kasper."