The Red Devils already have a squad believed to be worth around £500million though they have struggled this season.
Jose Mourinho was sacked as manager this week after a number of his signings failed to flourish under his leadership.
That included the likes of Paul Pogba, who was bought for £89m in 2016, £75m signing Romelu Lukaku and £52m summer buy Fred.
With Mourinho gone, United hero Ole Gunnar Solskjaer has been brought in on a caretaker basis until the end of the season.
The Norwegian got his spell underway with a 5-1 win over Cardiff on Saturday with Pogba impressing.
And Sources report that Solskjaer will have to make do with the current squad for the rest of the season, unless long-term injuries occur.
It should perhaps be no surprise that Woodward has decided not to spend having denied Mourinho a number of summer transfer targets.
The Portuguese boss wanted to bring a new central defender to Old Trafford but his pleas to get Harry Maguire or Toby Alderweireld reportedly fell on deaf ears.
It could be that Woodward is also waiting to appoint a permanent manager to see what squad he would like.
Current Tottenham boss Mauricio Pochettino is reportedly Manchester United’s No 1 target.
And former Spurs striker Peter Crouch believes the Argentinian would be backed by Woodward if he was appointed.
“Money will not be an object in Manchester,” Crouch wrote for the Daily Mail.
“The next permanent manager will be given all the backing he needs and the potential, if they get it right, is frightening for their opponents.
“Pochettino could be the man they need to make it all click together.
“Potential, though, does not come with guarantees of success and that is why leaving Tottenham — if that is what Pochettino one day chooses to do — is a gamble.
“I don’t think the speculation will have any bearing on Tottenham’s results this year.
“But if he goes, it could rip the club apart.”