The Mirror claim that United and Rashford's representatives have made significant progress in talks and that a deal will be thrashed out for the striker to commit his future to the club until 2025
The 21-year-old is one of several star players that the Red Devils are desperate to tie down, particularly in his recent form
Under the guidance of caretaker manager Ole Gunnar Solskjaer, Rashford has eight goals and three assists in 12 appearances having had just two goals and five assists in 20 games before that
Rashford's current deal - which he signed in May 2016 - expires at the end of next season, although United have the option to extend his current agreement by 12 months
But having handed Anthony Martial a new five-year, £200,000-a-week deal at the end of January, United are now close to making Rashford another of their highest-paid players
And that will see United chief Woodward carry out a promise delivered to investors during a conference call last week
With United hoping to get Ander Herrera, Juan Mata, Ashley Young and David de Gea to put pen-to-paper in addition to Rashford, Woodward said: "It's pretty well known the end dates of the players' contracts
We are a long way through the ones we had planned to do this season but obviously we want to finish off the final few as rapidly as we can
"Possibly, by the time we get to the summer we will be in a much stronger position with regard to the average tenure of each contract with our key players
" The Mirror say that Woodward is confident he will confirm Rashford's Old Trafford extension in the coming weeks with the young forward having previously been linked with the likes of Real Madrid
It is claimed the United academy graduate even contemplated his long-term future at the club under previous boss Jose Mourinho
The forward was not a guaranteed starter under the Portuguese coach and was often shunted out to a position on the wing, whereas his preferred role is through the middle, where he has played under Solskjaer
The England international is thought to be particularly pleased with the Norwegian interim manager's confidence in him to play as the side's No 9 and he is set to sign a deal that will put him on a salary closer to that of team-mate Martial's
The report suggests United also want to keep midfielder Andreas Pereira, who it is said wants to leave the club in search of more consistent game-time
While his minutes have increased under Solskjaer, the Spaniard is still no closer to being a regular starter at United - who want will use their one-year extension in his deal and try to convince him he is suited best by remaining with them
Woodward is also said to be confident of closing a deal for Herrera, who was particularly key on Monday and scored the game's opening goal as United beat Chelsea 2-0 to reach the FA Cup quarter-finals
United have won 11 of 13 games in all competitions under Solskjaer and will hope to maintain their fine form when they host Premier League title hopefuls, and bitter enemies, Liverpool at Old Trafford this Sunday (2
05pm).
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