Butt says Man Utd dream of Premier League title by 2028 'ain't going to happen'
Project 150 is the United co-owner's blueprint, which includes returning the title to Old Trafford within three years to celebrate the club's 150th anniversary.
Butt, however said after a "disaster" of a season -- United are currently a lowly 13th in the table having lost 12 times in the Premier League so far this term -- that such an ambition was way beyond the reach of the fallen English giants.
"That ain't going to happen. It's going to be a long way off," he told the Daily Mail.
"I think even if you got David Gill (former chief executive) and Sir Alex (Ferguson) back there, it's going to be a struggle for a long time. We're at the bottom of the mountain and there's a massive climb to get up."
United last won the Premier League in 2012/13 -- celebrated manager Ferguson's final season at Old Trafford before retirement -- and Butt, a former United Under-19 coach, said the club's wait to be crowned champions of England again could go on for a while yet.
"Big clubs like Man United have done it before where they've had to wait so long. I don't think anyone's got a given right to win the Premier League."
Butt's former team-mate Ryan Giggs was not quite as pessimistic, but said several things had to fall into place for United to enjoy a quick turnaround.
"You don't believe it but it does happen," he said. "It happened to us before we won the league (in 1992 after 26 years) and it happened to Liverpool (who had to wait 30 years to end their title drought).
"We do need lots and lots of players but you never know. It can happen in a short space of time, but you need a lot of things to go for you."
Butt, meanwhile, said the club's controversial increase in ticket prices announced this week, as well as plans to move season ticket holders from seats near the dugout in order to sell more lucrative corporate packages were "punishing the wrong people", adding: "There are a lot of things I think they're doing wrong and it's sad to see. It's not the Man United that I know and loved."