"This is a good young team coming together, playing the right way," said Ferguson. "They have great courage in the way they want to play. They want to win something and the signs are good. They have a great chance of doing that. I believe this is the strongest squad I have ever had, so much so that I think I would be pushed to name my overall best team. This is what I have been working towards.
"I don't like the short-term fix. I prefer to see a pool of players emerge and develop into something special which - believe me - is what is happening at Old Trafford this season. We have the young players led by Wayne Rooney and Cristiano Ronaldo and now joined by the likes of Carlos Tevez, Nani and Anderson.
"I am not becoming youth-obsessed either, with experience represented by [Paul] Scholes and Ryan Giggs who, in my view, will play until they are 36, such have been their lifestyles. There is many a pitfall for celebrity players but those two have avoided all the traps and set fine examples for those coming up behind them."
However he didn't want to be drawn into the debate of who will replace him when he decides to step down.
"Every time we play against an opponent managed by one of my old players, this crops up," added Ferguson. "It's unfair on whoever is being discussed at the time. Also it's trying to shove me out the door quicker than I want to go. I'm fit and healthy and, as long as that continues, I want to go on."
Hughes believes the title could stay at Old Trafford next season:
"They have strength, power, pace ... those qualities, allied with outstanding skill, make them a very difficult team to overcome. They're the current champions; they'll go very close again."