Ferguson created the most successful team in English football history during his time at Old Trafford, winning the league 13 times in 26 years in charge.
He told Sky Sports: "It'll be testing times for them. They have to get it in their mind that they'll drop a point or two, they may drop three points, they may lose a game.
"But others will drop points, that's the name of the game in the Premier League. It's a tough league.
"I can only see Tottenham as being the danger to be honest with you. At the moment they're playing some of the best football I've seen from any Tottenham team in many years.
"But Leicester I think have got the edge. I think they've got that togetherness."
Leicester last three matches have ended in 1-0 victories against Watford, Newcastle United and Crystal Palace- but sir Alex is not concerned that they are not running away with matches
He added: "I think it was 1996-97 we won eight games 1-0 and won the league. These are championship-winning games without question.
"The consistency has been there all season. If they retain that consistency I can't see anything going wrong for them."
A lot of Leicester's praise has come at the hands of the strikers and midfielders, namely Jamie Vardy, Riyad Mahrez and N'Golo Kante.
Ferguson believes that the defence - the third best in the league behind Tottenham and Arsenal - have been equally as impressive.
He said: "They've got the experience of [Robert] Huth and [Wes] Morgan at the back. They know how to head the ball clear, they know how to tackle, they know how to defend.
"Leicester have got the bit between their teeth and I think they've been the best team without questions throughout the season and they deserve to win it."
[Mirror]
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