Skipper Teddy was robbed of the opportunity of facing the great Dane when an Achilles problem ruled him out of the opening day's encounter at White Hart Lane.
They are now set to meet in a vital Premiership clash on Saturday. "I was very disappointed to miss out," recalled Teddy. "I got myself a little Achilles injury at the start of the season.
"I felt fit but the manager didn't want to risk me. I was disappointed because everyone wants to play in the first game but I'll have my chance against him now."
The pair, of course, were part of United's memorable treble-winning season in 1998-99 that culminated in the European Cup win against Bayern Munich at Barcelona.
Schmeichel left for Benfica after that success having played over 400 games in all competitions at Old Trafford and bagged five titles along the way.
Capped 128 times by Denmark, Schmeichel made a surprise return to the Premiership this summer and has showed so far that, at 38, he has lost little of the presence that many saw as a key to United's turn around under Sir Alex Ferguson.
"He's a colossal figure," said Teddy. "I didn't see the game against Liverpool on Boxing Day but I heard it on the radio and he was meant to have played very well again.
"There were chances when Owen was looking for his 100th goal and all you could hear was 'Schmeichel saves it again'.
"That's all I can remember from him in my time at Manchester United really. I don't expect anything different from him but hopefully he won't play as well against us."
Schmeichel has added another string to his bow this season - goalscoring.
He became the first goalkeeper to score a Premiership goal when he smashed home from a corner at Everton in October.
"I heard that he was up again against Liverpool and had a header past the post or the goalkeeper saved it," added Teddy. "That's him. He wants to win games and it's great to see."
By Paul Miles
Teddy Sheringham is relishing the chance to do battle with his former Manchester United team-mate Peter Schmeichel at Villa Park.