Club chairman John Bowler is now in talks to try and persuade Steve Holland to stay at the club in some capacity.
Gradi who served as manager for 24 years returns as caretaker, while the clubs board decide on who to appoint.
Neil Bakers role is unaffected for now and remains as assistant manager and will work once again with Gradi as the prepair the team for the visit of Stockport County.
The club expects to make a further announcement this Friday ahead of the Cheshire derby with Stockport County.