Boehly, Walter and fellow investor Hansjorg Wyss collectively own 38.5 per cent of the Premier League club, with the remaining 61.5 per cent held by Clearlake, the private equity group fronted by Eghbali and Jose E Feliciano.
Boehly has served as Chelsea's public-facing chairman since the 2022 takeover, but it is Eghbali who has taken the more hands-on role among the ownership group, regularly liaising with the club's sporting directorship and attending matches home and away.
A spokesperson for Walter confirmed to Bloomberg that he is seeking to sell his stake, with an agreement understood to be close, while Boehly is expected to follow suit. Wyss's own position has not been confirmed.
"This potential transaction values Mark Walter's stake in Chelsea Football Club at a premium to his initial investment and is another successful sports investment for him," the spokesperson said.
"After this exit, Mr Walter intends to make future sports-related investments." The spokesperson added that Walter "did not initiate the proposed transaction to sell his interest, which has been in the works for quite some time."
The consortium originally paid £2.5bn for Chelsea in 2022, with a further £1.75bn committed to investment in the club, and Boehly, Walter and Wyss would expect only a modest profit on their original outlay if an in-house sale to Clearlake goes through.
Boehly took an early hands-on role in the transfer market, once admitting he pushed to sign Marc Cucurella from Brighton partly because Manchester City were also interested, though Eghbali has largely driven recruitment since that early foray. The pair are understood to have had a strained relationship for some time, with speculation over one buying out the other having circulated for close to two years.
The takeover talk comes against a backdrop of significant change on the pitch. Mauricio Pochettino's departure as head coach was followed by Enzo Maresca, who won the Conference League and Club World Cup before leaving at the start of this year, with Chelsea finishing 10th and missing out on Europe altogether.
Xabi Alonso was appointed as head coach over the summer, overseeing more than £280m of spending on a dozen new signings as the club looks to arrest that decline.