The former Manchester United boss, who is still a director at Old Trafford and has accepted a role as UEFA's coaching ambassador, believes the Red Devils' neighbours Manchester City currently look best-placed to claim the title in May, but anticipates a thrilling end to the season.
Speaking to Sky Sports News, he said: "This year for the first time it really looks as if five or six could be involved, so it's a great Premier League.
"It's still not an easy league to win. I think the English game is the most honest and is the hardest league to win in terms of the competition you face. You can lose to anyone.
"You have to say Manchester City are playing so well, there is no dispute about that, but the teams at the top at the minute must have a big chance.
"Arsenal must have a big chance. Everyone keeps writing them off, saying they won't last, but we're into the second half of the season and they are still there.
"Then you've got Chelsea, Everton, Tottenham, who are starting to do well.
"United always do well in the second half of the season, so we've got a fantastic league and we should be proud of that."
When asked about United's chances this season, he added: "United can do anything. They have got that great philosophy and history, they will always do well.
"I can watch the team whenever I want and I've really enjoyed it.
"I'm going as a supporter now and instead of suffering with the team, I'm suffering or enjoying it with the fans. I'm really enjoying watching the team play."