Chelsea Handler Announces Breakup with Jo Koy: 'Continue to Root for Us'

Joe Coy and Chelsea Handler are taking different paths.

The 47-year-old former Chelsea presenter announced her and Coe's separation on Instagram on Monday.

It is with a heavy heart to say that we have jointly decided that it is best for us to take a break from our relationship at this time,

 Handler wrote in the title of a video that the two plan to air on their one-year anniversary.

A source told PEOPLE that people close to the couple hope this is only a short-term issue.

Insiders say, "His friends are still holding out hope for him.

But if anything, their friendship has obviously improved for both."

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