Manchester United boss Solskjaer wants Woodward to invest in the squad this summer as he targets Premier League title glory next season.
The 46-year-old is well aware of his side’s need to spend big with the Red Devils well adrift of Manchester City and Liverpool.
Solskjaer believes his Manchester United side need bolstering in every single area of the squad following six years of turmoil since Sir Alex Ferguson’s retirement in 2013.
And Portuguese newspaper A Bola claim the Norwegian has demanded Woodward secure a deal for Fernandes.
The 24-year-old has enjoyed a fine season over at Sporting, helping them to third in the Primeira Liga table.
The report suggests Solskjaer wants Fernandes because of uncertainty over the futures of Paul Pogba, Ander Herrera and Juan Mata.
Pogba has emerged as a top Real Madrid target with Zinedine Zidane keen to unite with his compatriot.
Herrera is understood to be on the brink of a move to PSG.
And Mata’s contract at United expires at the end of the season, meaning clubs can sign the Spain international on a free transfer.
A Bola say Manchester City are also sniffing about.
But Solskjaer, it seems, sees United capturing Fernandes as significant to his Old Trafford rebuild.
Meanwhile, speaking on Friday, Solskjaer expressed a belief that United were still a big club when it comes to the transfer market.
The Red Devils are likely to be playing in the Europa League next term.
But Solskjaer feels United are still capable of signing Europe’s best players, saying: “In the long-term planning we have to think about being in the Champions League next year.
“We might not be, but you’d be surprised how many players’ agents have been touting, telling us their players would love to be a part of Manchester United in the future.
“That’s the lure, the potential and size of the club, [the belief] that we will get back to the good days.
“We’ve not been up to the standards we expect, but it’s up to me and the club and that may mean a season without Champions League, who knows?
“But players still want to come to Manchester United and you wouldn’t be surprised by the names that ask.”