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The former Shed hero, talking to BBC Online, “shed” is thoughts on the recent encounter between Chelsea and Arsenal, and emphasized his confidence that his former team in Blue can successfully overcome Arsenal in the quarter-final replay to set up a semi-final date with Sheffield United.
Osgood said: "I think Chelsea might have been guilty of showing Arsenal too much respect in the past, but I'm not sure that's the case any more.
"I think they believe they can beat Arsenal now."
Osgood won his FA Cup winners medal with Chelsea in 1970 and Southampton in 1976. With regard to both clubs he said:"I was lucky enough to play for two great clubs, and if both Chelsea and Saints get through, I couldn't lose in the final.
"I'm still Chelsea blue through and through, but I love Saints as well and the semi-final draw was the one we wanted.
"It would be a dream final for me if both of my teams got through."
"I still live in the area and I work at St Mary's stadium on match days.
"I remember the buzz that went round the city when we won the Cup in 1976 and I'm getting the same sort of vibe now.
"I was at the Wolves game and was really pleased and excited when Saints won."
Osgood, an admirer of Saints boss Gordon Strachan, spoke highly of the ginger wingers achievements, as the Saints line-up for their first FA Cup semi-final for 17 years.
"He's done a good job, although the whole club has come together, with a new stadium, and a good team."
"Southampton are a team that look after their old players and I was at the quarter-final with Mike Channon and Peter Rodrigues, two of my team mates from that 1976 team.
"It was a really fun day and I'm sure we're in for another in Cardiff in May."