Manchester United chief executive Ed Woodward says clubs will not spend “hundreds of millions” when signing new players in the transfer window as they will be mindful of the financial impact of the Covid-19 pandemic.

Professional soccer in England has been suspended since March 13 due to the new coronavirus and many English clubs have seen a loss in revenue owing to the stoppage, leading to non-playing staff being furloughed.

Woodward said it would be a challenging time in the market and it may not be “business as usual” for clubs, including United, when they look for new recruits.

“We need visibility of the impact across the whole industry, including timings of the transfer window and the wider financial picture, before we can talk about a return to normality,” Woodward said on a United fans’ forum on Friday.

“On this basis, I cannot help feeling that speculation around transfers of players seems to ignore the realities that face the sport.”