The Premier League will resume on June 17 after Project Restart was agreed upon by all 20 clubs.
Shareholders are expected to meet on Thursday and they will discuss what will happen with league positions if the season is not completed.
According to The Telegraph, Woodward told his rivals teams must be relegated if the season is halted again due to the coronavirus pandemic.
Woodward believes not doing so would jeopardise the finances of every club in the league.
The Premier League could agree upon a Points Per Game method if games are suspended once again.