The executive vice-chairman told a fans' forum recently that funds would be available to Solskjaer ahead of the "important opportunity" to continue the club's rebuild.
"There has been no shortage of investment in players over the past few years, with over £200 million spent since Ole became manager," he said.
United sit eighth with just 35 points after 25 games and face Chelsea on Monday in what is increasingly looking like a must-win game in their bid to finish fourth.
Solskjaer signed Bruno Fernandes in January in a deal worth an initial £47m before a frantic 11th-hour loan deal for striker Odion Ighalo.
Former Crystal Palace chairman Simon Jordan feels Solskjaer's track record of results and player management means any outlay could be wasted.
"Ed Woodward has come out this week and said they aren't where they should be and that they're going to be spending money," he told talkSPORT.
"But I really don't think the manager is capable of managing whoever they put in there to get Man United back to the level they need to be.
"Would I give Solskjaer £150m or £200m to spend? No. I wouldn't have given him the job in the first place- but then again I'm not in charge of Man United.
"I think it was a poor decision; I think it was an unavoidable mistake giving him the job after what he achieved in just a few games."