Jose Mourinho and Manchester United are set to enter a second day of talks, with the Portuguese expected to become the club’s next manager this week.
Mourinho’s agent, Jorge Mendes, met United officials on Tuesday but a deal has not yet been announced.
Dutchman Louis van Gaal, 64, was sacked as United boss on Monday, two days after winning the FA Cup at Wembley.
He led United to fifth place in the Premier League but failed to get them past the Champions League group stages.
The former Netherlands boss was also criticised for his lack of attacking football, with United only scoring 49 goals in the top flight.
The future of assistant boss Ryan Giggs remains uncertain, with the 42-year-old unhappy at the way Van Gaal was dismissed.
He is weighing up an offer to extend his 29-year association with the club, having been passed over for the manager’s job for the second time.
Schmeichel believes Giggs should leave and “learn the trade” of management at another club, while former United assistant Rene Meulensteen told BBC Radio 5 live the Welshman had the attributes to be a “very good manager”.