Former Manchester United striker Ole Gunnar Solskjaer is being considered as caretaker manager at the club following the sacking of Jose Mourinho.
The Portuguese, 55, was dismissed after two and a half years in charge because of the team's style, results and a poor record of developing young players.
Molde manager Solskjaer, 45, played for United between 1996 and 2007 and would fit the club's philosophy.
United hope to appoint a caretaker before facing Cardiff on 22 December.
Former Norway striker Solskjaer has been in charge at Molde since 2015 in what is his second spell as manager, but their 2018 season has finished for the winter and does not re-start until March.
Solskjaer scored 126 goals in 366 appearances during his 11 years at Old Trafford and is best remembered for scoring the winner in the Champions League final against Bayern Munich in 1999.
He also won six Premier League titles and two FA Cups with United.
After his first spell as Molde manager, during which he won two Norwegian league titles and a cup, he returned to the Premier League as Cardiff City boss in 2014.
But he failed to save them from relegation from the top flight and left the club nine months after being appointed with the Bluebirds 17th in the Championship after three defeats in seven games.
It is understood the new caretaker boss will not be assistant manager Michael Carrick or academy boss Nicky Butt.
It is also unlikely to be former Manchester United defender Lauren Blanc, who has been linked with the vacant role.
A United statement said: "A caretaker manager will be appointed until the end of the season while the club conducts a thorough recruitment process for a new, full-time manager.
"The club would like to thank Jose for his work during his time at Manchester United and to wish him success in the future."
Pochettino tight-lipped on United links
Tottenham boss Mauricio Pochettino, 46, is one of the favourites for the permanent role but refused to be drawn on links with United.
Former Manchester United defender Gary Neville said the Argentine would be the "ideal candidate" to take over.
But in May Pochettino signed a new five-year deal that ties him to Tottenham until 2023.
Speaking before Spurs' Carabao Cup tie at Arsenal on Wednesday, Pochettino said: "I have a very good relationship with Jose, he is a good friend, it is sad news.
"It is not my business what has happened in another club now. I send my best wishes to Jose.
"After nearly five years there is a lot of rumours about my position as manager at Tottenham. I cannot answer this type of question because rumours happen."
Pochettino is yet to win a trophy as a manager in England since he joined Southampton in 2013 and moved to Spurs in 2014.
But Neville told Sky Sports: "Manchester United have tried managers that have won European Cups, they've tried managers that have won multiple leagues, they've tried managers that have, to be fair, had that solid grounding in the Premier League.
"They need someone who meets the three key principals of that football club: the promotion of youth, entertaining football and to win football matches.
"People suggest Pochettino hasn't won a trophy yet at Tottenham but with a net spend of minus £29m or something over the last four years, I'm not sure he could have done more.
"I do think he is the person who is the outstanding candidate."
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