Boehly, 52, was the driving force behind the consortium that bought Cheslea from Roman Abramovich back in 2022.
As a result, he became a poster boy for much of the club’s failures since, with Chelsea qualifying for the Champions League just once since the takeover.
Reports have also suggested that Boehly would routinely clash with fellow co-owners Clearlake and Behdad Eghbali over strategy.
According to Bloomberg, Boehly, along with Walter are close to agreeing a deal to sell their stakes to Clearlake.
Both Boehly and Walter own a 12.8% minority stake in the club, while Clearlake are majority owners with 61.5%
The news comes after Walter found himself under investigation from U.S. federal prosecutors and the SEC over $16 billion to $21 billion of potential loan fraud.