The Red Devils want to go on a summer spending spree to build a team to compete for titles and trophies.
But Solskjaer knows that missing out on the Champions League could hinder that progress.
The Norwegian acknowledged the issue, but also suggested it could be overcome.
"The Champions League gives the club resources, more money, that is one thing," said Solskjaer to reporters.
"It is a prestigious tournament to be in of course.
"If we play well the rest of the season and players that we might want are impressed by that it might be easier to convince them.
"So this season with the Europa League, if next season is with or without Champions League I wouldn't say that is the be all and end all for a player to sign for us."