Wallace told Sunday Supplement that Pogba was demonstrating the power he has at Old Trafford to Mourinho,
After Mourinho made him captain for their 2-1 win over Leicester, Pogba admitted that he has had to bite his tongue when discussing his situation or risk being fined.
Two years after returning to Old Trafford from Juventus, the 25-year-old is reported to be unhappy and informed Executive Vice-Chairman, Ed Woodward of his desire to leave.
Wallace feels there will be only be one winner, if the club’s hierarchy have to make a decision between keeping the player or their manager.
Speaking on the Sunday Supplement, the Daily Telegraph’s chief football writer said: “This troika of figures at United, the Executive Vice-Chairman Ed Woodward, who is unquestionably the most powerful man at the club – there is literally no manager who can challenge him in terms of a relationship with the Glazers – the manager Jose Mourinho and Paul Pogba, their highest-profile player; the weakest of the three is Mourinho.
“There was no question that United would let Pogba go to Barcelona, I’m not sure they could afford him anyway. They tried to throw some pretty mediocre players in.
“I am surprised by what Pogba has said, because it’s pretty bold. I think it shows his confidence. He’s been told he’s a crucial part of the club’s on-field and commercial success, and he’s going very close to saying what he wants.
“I don’t think there’s any question that a player would say that under Fergie (Sir Alex Ferguson) because you’d have been finished.
“The days of when Real Madrid and Barcelona could just buy players out of the Premier League are over for the time being, so this was all in the nuance, and Jose will understand it. Mourinho understands power, and this is a player demonstrating the power that he has.”