Real Madrid tackle Liverpool in the Champions League final on Saturday in Kiev and they are aiming to win the competition for the third season on the trot.
Only two managers – Bob Paisley and Carlo Ancelotti – have lifted the European Cup three times, but not in successive years.
After a disappointing La Liga campaign, Real hope to salvage their season by winning Europe’s biggest prize for the 13th time in their history.
Zidane’s future was the subject of intense speculation earlier in the season and Florentino Perez has never been afraid to wield the axe at the Bernabeu.
And McManaman, who won the European Cup twice with Los Blancos, thinks fans would be raving more about the club’s exploits if Pep Guardiola were managing them.
“He doesn’t get enough credit. He took over a struggling, dysfunctional team,” said McManaman.
“The players were not happy when he was appointed. He has gone on to win two Champions Leagues.
“If Pep Guardiola had done this people would be singing from rooftops.
“He does not pat himself on the back enough. He is similar as a manager as a player.
“He is not outspoken. He gives nothing away.
“Not extravagant in interviews, but always graceful.
“If he wins, everyone says it is down to players, but he is the one who has turned them into a happy bunch.”