Manchester United assistant boss Mike Phelan has not ruled out the possibility of being a manager in his own right.

But for now he is more than happy being Sir Alex Ferguson's right-hand man.

After spending five years as a player at Old Trafford, Phelan returned to join the coaching staff in 1999, progressing through the ranks until he was named as assistant in the summer when Carlos Queiroz left to take charge of Portugal.

As Steve McClaren, Brian Kidd and, for a short spell, Walter Smith have all filled the role in years gone by, it would be natural for Phelan to move on at some stage.

But for now the proud Lancastrian is content to keep doing a job he loves.

"Being a manager is an interesting proposition but I am assistant manager of Manchester United, which is a fabulous thing to be involved in," he said.

"I work with great players every day at a great football club. At the moment, I could not ask for any more."

For at least as long as Ferguson remains in charge, Phelan also knows he is working within a stable environment.

It has not escaped his attention that one budding young manager, Tony Adams, was sacked this week, while former United team-mate Paul Ince went the same way at Blackburn before Christmas.

Working for trigger-happy chairmen seems to be the way of modern football, where the financial nightmare of relegation hangs over three-quarters of the Premier League and belt-tightening everywhere else is the order of the day.

"I have never been a manager," reflected Phelan, who also spent time as number two to Gary Megson at Stockport and another of his former clubs, Norwich.

"But looking from the outside in, it is not easy.

"The consequences of your actions are highlighted more than they have ever been.

"You try to work in an environment where you want to develop or succeed but sometimes through luck or mismanagement, it does not work out for you.

"But that is just something that seems to be in the game now. Young managers have to accept that situation."

As a former United player, the pull of the Red Devils is strong anyway.

Sunday's meeting with Derby in the FA Cup brings back a few memories as it was that competition, and specifically the 1990 final against Crystal Palace - that Phelan played in - that started a phenomenal run of success which is still continuing nearly two decades on.

"It was a little bit rocky early on but winning the FA Cup gave us the belief that we could go on and do other things," he said.

"It paved the way for everything else. You always have to crack the egg and see what is inside.

"Then it was a case of regrouping, analysing what we had and getting more players in. Then we kicked on."

As someone who experienced the difficult days, when United were delighted to win an FA Cup every few years, the progression to the present day, when the world champions look set to complete a title hat-trick at the very least must be quite startling.

Yet Phelan says it is not quite as astounding as it looks.

"When you come into a club like this, with the history it has, you know it will be competitive from day one," he said.

"If you don't produce you don't last very long. It was terrific as a player. I wanted to come and win things, which I was lucky enough to do. Going into coaching I had that same ambition and desire.

"I feel really privileged to hold the position I do but that is all down to the manager's selection.

"He feels he can trust what I am doing, which is good to know."