His side must beat Stoke City at home on Sunday and hope that Wigan Athletic, among the worst travellers in the top flight, can prevent Chelsea winning at Stamford Bridge.
If not, blue ribbons will replace red on the trophy and leave United with just a League Cup success and a starring role in the most absorbing title race for many years as scant consolation for a long, hard season.
Ferguson, always keen to play a few mind games, said United are now clutching at straws after a 1-0 win at Sunderland last week at least extended the battle to Sunday's finale.
"We have a chance to win the league and we will fight until the end," United's Nani said this week. "You never know what's going to happen in football. We just have to wait and see and win our game against Stoke at Old Trafford."
"If at the beginning of the season someone had said we were going to play the last game at home and a win would win the league, I think everybody would have signed for it," he said.
"So we know what we have to do. We play at home and it is always good if you can win a title at home."
"Yes, we've had a few of these last day encounters over the years and we've been fortunate to win three of them. But we did lose one at West Ham," Fergsuon said on United's website.
"But it's important to understand we have the experience of these things, winning and losing. So we've got to handle ourselves in the right way."
All eyes will be on Wigan's performance. Roberto Martinez's side beat Chelsea at home this season, Ancelotti's first taste of defeat in the Premier League and they have proved themselves capable of worrying the top sides, most recently Arsenal who they beat 3-2 after trailing 2-0 with 10 minutes remaining.
