City lead Ferguson's Manchester United on goal difference with one game to play and are long odds-on to take the title as they face Queens Park Rangers on the final day.
The hope for United, who meet Sunderland in their final game, is that QPR are spurred on by their own battle against relegation and are inspired by Hughes who was axed by City in acrimonious circumstances.
"QPR need a point and they're fighting for survival," Ferguson said. "The whole future of the club could be resting on the game and I only wish Sparky was playing.
"But Mark knows his job all right. He was sacked by City in a very unethical way and he'll remember that."
Ferguson has a passion for horse racing and is hoping for a dramatic moment similar to the 1956 Grand National when Devon Loch fell just yards from the line with the race in the bag.
"There could be a Devon Loch. You never know," said Ferguson. "Stranger things have happened in this game of football.
"They're red-hot favourites but we've won the title on three occasions on the last day and we don't mind doing it again."