Executive vice-chairman Ed Woodward suggested earlier in the summer that the club needed to secure a high-profile player after manager Sir Alex Ferguson and chief executive David Gill left Old Trafford.
United have been linked with moves for Cristiano Ronaldo and Gareth Bale, while new boss David Moyes was snubbed in his attempt to sign Leighton Baines and Marouane Fellaini from former club Everton.
But United's goalkeeping legend Schmeichel insists Moyes must stick by the principle of only signing players he believes will strengthen the squad, regardless of how highly they are rated.
"I would never bring in a player to make a statement," he said.
"Maybe with a new manager and a new chief executive they feel a need to tell the fans Manchester United still have the power and money and can still sign the players.
"That is important because there are a lot of fans out there who are unsure about how financially strong Manchester United are and how committed the owners are to spend the money that is being created by the club.
"But the players have to be an improvement. If they are not of the right calibre you stay away from it.
"You don't sign a player for the sake of it."