On Sunday evening, the Red Devils were announced as one of the founding clubs of the breakaway tournament, which has now been left in disarray, with the majority of teams pulling out.
Various reports had suggested that Woodward's decision to resign from his role as executive vice-chairman was not linked to the Super League as he was already preparing to leave several months ago.
However, according to the Daily Star, the backlash from the Super League proposals played a leading role in the 49-year-old's desire to stand down.
The report claims that Woodward was quick to realise that he had made 'one of the biggest mistakes of his professional career' by giving the green light to join the breakaway tournament.
Man United co-owner Joel Glazer is believed to have attempted to talk the former investment banker out of his decision when the pair spoke on Tuesday afternoon.
Woodward will remain in his current position until the end of 2021.