Hayes’ 12-year spell as Chelsea manager comes to an end this weekend before she then takes over as United States boss.
The London club were in contention for a quadruple, but were knocked out of the Champions League and FA Cup in the semi-finals and lost the League Cup final.
White said there is “so much riding on it” for Hayes – but winning would be a big statement for City too.
“Winning the title is absolutely huge, it shows what you have done over a consecutive season and the consistency you have played at and everything you have had to play through,” she said.
“For City they haven’t won since 2016, but for Emma Hayes there is so much riding on it. She is wanting to win that title, they had four they could have won and it all comes down to this trophy for them.”
Hayes conceded that the title race was “over” after losing to Liverpool at the start of the month, but results have since gone Chelsea’s way and the the balance has swung in their favour.
City were beaten 2-1 by Arsenal, while Chelsea thrashed Bristol City and beat Tottenham to get back to the top.
Chapman said she thinks it will “go Chelsea’s way”.
“It was out of their hands, now it’s back in their hands and it seems that it is going to pan out that it’s going to go Chelsea’s way being two goals ahead. I’m sure both teams will give it the best they can and it’s going to come right down to the wire.”