The tragic accident happened after Leicester City’s 1-1 draw with West Ham United when Srivaddhanapraba was leaving the stadium.
The helicopter owned by Srivaddhnaprabha spiralled and crashed to the ground before bursting into flames in the club’s car park.
Earlier reports suggested that Srivaddhanaprabha was on board with his daughter, two pilots and a person whose identity has not yet been identified.
One eye witness outside the stadium said: “I saw it all. It was clearly in trouble and only just managed to get over the stadium before it started whirling around and coming down.”
Mr Srivaddhanapraba, estimated to be worth £5bn, is a Thai businessman and chairman of Leicester City’s sponsors King Power.
He took over the club in August 2010 for a reported fee of £39m and lead them to Premier League glory in 2015/16 season for the first time in club history.
LEICESTER CITY STATEMENT
Tearful Leicester City fans gathered to lay flowers at the King Power Stadium today after the owner’s helicopter came crashing down to earth and burst into flames shortly after taking off from the ground last night.