Schmeichel has worked heavily in the media, in Denmark and England, since retiring from football in 2003. But he says he is now ready to move into management in England if the right opportunity arises.
The former Denmark goalkeeper, who made almost 300 appearances for Manchester United between 1991 and 1999, is currently doing his coaching badges with an eye on moving into the dug-out.
Asked why he had not gone into coaching before, Schmeichel said: "It is just the way it all panned out. As soon as I retired I started to do a lot of media work. I ended up doing my own TV programme in Denmark for many, many years and football just went further and further away.
"At some point you realise your life if football and you might just want to go back in. I am doing my badges and I am kind of looking at may be going into management but I am not overly keen at going in at any club and doing anything, just being a steward at a club. So I am thinking about moving back into football.
"I have been away from football for a long, long time so the question is do I want to just go in anywhere or do I look for the right job; the right opportunity with the right club and the right chairman doing the same thing as I want to do.
"I just don't want to be like a steward sat there looking after a team for two years and then someone else comes in. I want to develop teams, may take them from lower divisions to the next step, to have fun with it.
"There are not too many jobs out there where you have the time to really have fun with it and develop it."
Schmeichel won 129 caps for Denmark, winning the European Championships with them in 1992, and still spends a lot of time in his homeland but when it comes to football, he insists he would only considering managing in England.
"I am addicted to English football," he said. "I have been addicted to English football for all of my life. It is the only place in the world that I would work. I consider the Premier League to be the best league by a long, long way. From what we have seen on the opening day yesterday I have not been disappointed."