Giggs is thought to be in the running to replace David Moyes, who was sacked by United last week. The Welshman has a 26-year affiliation with the Reds, and appears to be the fans favourite to take the post at Old Trafford.
United are also thought to be in negotiations to bring Netherlands coach Louis Van Gaal to the club, with the Dutchman wanting a deal done before next Wednesday when he names his preliminary squad for this summer’s World Cup in Brazil.
Giggs reportedly met with Woodward at Carrington on Thursday morning, to discuss how he will fit into the new regime at the club either as manager, or a coach under Van Gaal. It is thought that United could offer Giggs an additional one-year playing contract, but can’t make any promises with regard to a coaching role if Van Gaal does not want to appoint him.
It remains to be seen whether United will try to keep coaches Phil Neville, Nicky Butt and Paul Scholes, with Van Gaal said to want up to five coaches of his own in the Old Trafford dug-out.
One of the key areas where United are likely to make their final decision is the subject of transfers. The Reds have been reported to have a financial war chest of up to £200m to spend on players this summer, but questions remain over whether United could instil trust in Giggs with regard to crucial recruitment decisions.
With Van Gaal having won trophies with some of the world’s biggest clubs in Barcelona and Bayern Munich, it appears more viable to select the Dutchman to spearhead the incoming transfers.
But it seems that United, either as manager, coach or player, are keen on Ryan Giggs extending his 27-year stay with the club.