United have only finished in the top four once since Ferguson’s retirement in 2013, with David Moyes and Louis van Gaal both receiving the sack for missing out on Champions League football.

Jose Mourinho took charge in the summer but, despite spending around £150m on new players, he has had a tough start to life at Old Trafford, and has only managed one Premier League victory since August.

The former Chelsea boss holds a record identical to Moyes’ after nine league games, which has left United in seventh place in the table, six points behind City, Arsenal and Chelsea.

City haven’t won in six games following the 1-0 Manchester derby loss on Wednesday night, but Ferguson still believes they are favourites for the title after they won their first 10 games with Guardiola in charge.

"I think there's five potential candidates: Manchester City as favourites, Tottenham and Liverpool, but also Man United are still there if we get some consistency soon,” Ferguson told German magazine kicker.

“Even when you are trailing by six, eight points, it's still possible to catch one or two teams.

Manchester United vs Manchester City player ratings Show all 22 1 /22 Manchester United vs Manchester City player ratings Manchester United vs Manchester City player ratings David De Gea - 7 out of 10 Facing just one shot on target, the Spaniard will have been expecting a more taxing afternoon but nonetheless marshalled his backline well at set-pieces. 2015 Manchester United FC Manchester United vs Manchester City player ratings Antonio Valencia - 5 out of 10 Was exposed all too often by City’s faster and more industrious talents before becoming a liability when the anarchic Kevin De Bruyne switched sides. 2015 Manchester United FC Manchester United vs Manchester City player ratings Phil Jones - 7 out of 10 Reduced Wilfried Bony to a mere irritant rather than a credible threat, forcing the Ivorian striker out wide to search for scraps which seldom came his way. 2015 Getty Images Manchester United vs Manchester City player ratings Chris Smalling - 7 out of 10 Described by his captain as ‘one of the best three centre-halves in the world,’ the England man continued his impressive start to the season with another assured outing. 2015 Getty Images Manchester United vs Manchester City player ratings Marcos Rojo - 8 out of 10 Delivered a minor masterclass in the art of man marking to nullify Kevin De Bruyne’s threat as the Belgian endured a frustrating afternoon. 2015 Manchester United FC Manchester United vs Manchester City player ratings Bastian Schweinsteiger - 7 out of 10 A calming presence amid a hectic midfield battle, the experienced German made amends for his lack of pace with pin-point accuracy on his distribution. 2015 Manchester United FC Manchester United vs Manchester City player ratings Morgan Schneiderlin - 7 out of 10 Shadowing the imperious Bastian Schweinsteiger in the centre, the former Southampton man ghosted into pockets of space carelessly afforded to him by his City counterparts. 2015 Manchester United FC Manchester United vs Manchester City player ratings Juan Mata - 7 out of 10 Surrendered possession cheaply in the opening period but become more of a menace after the restart, in a more advanced role just behind Wayne Rooney. Getty Images Manchester United vs Manchester City player ratings Ander Herrera - 7 out of 10 Perhaps unfortunate not to be awarded a penalty after a tangle of legs with Raheem Sterling, the little Spaniard has a knack of finding himself behind enemy lines. 2015 Manchester United FC Manchester United vs Manchester City player ratings Anthony Martial - 6 out of 10 Had little room to manoeuvre on the left wing, a position Louis van Gaal has insisted upon lately, and inevitably cut an isolated and frustrated figure. 2015 Getty Images Manchester United vs Manchester City player ratings Wayne Rooney - 7 out of 10 After turning 30 on Saturday, the United skipper led from the front. Delivering a display epitomising his responsibilities, his most memorable contributions came in front of his own goal. 2015 Getty Images Manchester United vs Manchester City player ratings Joe Hart - 7 out of 10 Forced into making a decent save late on to deny Chris Smalling from point blank range, the England goalkeeper remained alert despite a largely uneventful shift. 2015 Getty Images Manchester United vs Manchester City player ratings Bacary Sagna - 7 out of 10 Refused to gallop down the line as often as City supporters would have liked, preferring to quell the dangers of Anthony Martial - to great effect. 2015 Getty Images Manchester United vs Manchester City player ratings Vincent Kompany - 7 out of 10 Booked in the first half for a succession of clumsy challenges, the Belgian was forced to walk on eggshells in the second period. Manchester United vs Manchester City player ratings Nicolas Otamendi - 7 out of 10 Rarely giving Wayne Rooney a moment of peace, the indomitable Argentinian defender is settling into his new role at City with the authority it demands. Manchester United vs Manchester City player ratings Aleksandar Kolarov - 7 out of 10 Dealt with the unpredictable nature of Juan Mata with swagger before enjoying a relatively uneventful final 23 minutes up against Jesse Lingard. 2015 Manchester United FC Manchester United vs Manchester City player ratings Fernando - 7 out of 10 An assured, if unremarkable, outing from the Brazilian meant it would have taken a Herculean effort by the United attackers to break the deadlock. Manchester United vs Manchester City player ratings Fernandinho - 6 out of 10 Impotent in front of goal and often absent at the back, this was an exasperating afternoon for the usually so comfortable midfield general. 2015 Manchester United FC Manchester United vs Manchester City player ratings Kevin De Bruyne - 6 out of 10 A marked man throughout, the Belgian was forced into rushing any opportunity which came his way. Enjoyed more success up against Antonio Valencia on the left. Manchester United vs Manchester City player ratings Yaya Toure - 6 out of 10 Sarcastic jeers greeted the Ivorian midfielder’s 77th minute substitution after he spent the afternoon trying and failing to singlehandedly bamboozle his way through United’s defence. 2015 Getty Images Manchester United vs Manchester City player ratings Raheem Sterling - 6 out of 10 Had the opportunity to wreak havoc down the right, up against a cumbersome Antonio Valencia, but his turn of pace proved more effective when tracking back. Manchester United vs Manchester City player ratings Wilfried Bony - 5 out of 10 Increasingly isolated in attack, this was an outing which will do little to silence the unhelpful – and unflattering - comparisons to injured Sergio Aguero. 2015 Manchester United FC

"The rivalry and the experience of Guardiola and Mourinho makes for an exciting competition. And you shouldn't forget Arsenal. The team is more sturdy. They've got better and more aggressive. I'm impressed with the young boy Alex Iwobi.

"Guardiola's skills are beyond debate, Conte is getting Chelsea on track, but Mourinho can also rival Guardiola – he's won the Champions League with two different clubs and titles in three different countries," the Scot said.