John Nixon has said he will stand down as managing director of Carlisle United once the club secures new investment.
Nixon, one of four directors that have been in control of Carlisle since 2008, plans to remain a shareholder in CUFC Holdings, which owns 93% of the club.
An unnamed "billionaire" is the latest to express interest in investing in the League Two side.
"I will be leaving my post as managing director once the ownership issue has been resolved," Nixon said.
In a club statement, Nixon continued: "Whoever comes into the club will need to appoint their own new managing director - their own person - and that is only right.
"Whatever the outcome, I will not be continuing as managing director or in any such post."
Nixon, who insists "fresh blood" is needed at Brunton Park, had already agreed to leave his post as managing director when the club were initially in discussions with businessman Andrew Lapping.
"It is taking longer than we would have wanted but I think most supporters will understand that we had to consider this fresh approach from a potential new investor," Nixon said.