It was confirmed late last night that the 61-year-old was one of five people to die when his helicopter came crashing down outside the stadium.
Hero pilot Eric Swaffer and his girlfriend Izabela Roza Lechowicz Nusara Suknamai and Kaveporn Punpare, who were members of Srivaddhanaprabha’s staff, also died when the aircraft burst into a ball of flames.
And this morning as the sun rose over the King Power Stadium, the outpouring of grief was evident by the rose and rows of flowers lid outside the ground.
A book of condolence will be opened at the King Power Stadium from Tuesday morning, with an online version also to be set up.
The helicopter took off at around 8.45pm on Saturday night and nosedived in a ball of flames less than 200 yards away just seconds later.
Eye-witnesses said the AW169 helicopter spiralled out of control in the air with an apparent problem with the tail fin.
Leicester FC released a statement reading: "It is with the deepest regret and a collective broken heart that we confirm our Chairman, Vichai Srivaddhanaprabha, was among those to have tragically lose their lives on Saturday evening with a helicopter carrying him and four people crashed out the King Power Stadium. None of those five people on-board survived.
"The primary thoughts of everyone at the Club are with the Srivaddhanaprabha family and the families of all those on-board at this time of unspeakable loss."
The Sun has reported how the pilot has been credited with saving lives by guiding the aircraft away from crowds on the ground.
What we know so far:
- The helicopter came down in a car park behind the King Power Stadium following a Premier League game between Leicester and West Ham.
- Witnesses said the helicopter lost control within a few seconds and crashed into the club's staff car park.
- Leicester City owner Srivaddhanaprabha was confirmed to have died.
- Four other people were on board the helicopter, none of whom survived.
- Hero pilot Eric Swaffer died alongside his co-pilot girlfriend Izabela Roza Lechowicz.
- Beauty queen Nusara Suknamai and Kaveporn Punpare also died.
- Leicester City described Mr Srivaddhanaprabha as "a great man".
- The Air Accident Investigation Branch is leading an investigation.
Former Royal Navy commando Harry Benson, 58, believes Swaffer became stuck in a "dead man's curve", which almost always ends in a "catastrophic failure".
And Sky Sports cameraman Dan Cox spoke of his horror at seeing the helicopter "spinning out of control" moments after hearing the take-off.
Cox told Sky News: "I heard the helicopter coming out of the stadium, saw it as you do, they are amazing pieces of machinery and then I just carried on walking thinking next time I look up it is going to be overhead.
"The next thing I just looked up and it was just spinning, static just out of control, just a constant spinning, I have never seen anything like it."
LEICESTER CITY FOOTBALL CLUB STATEMENT IN FULL
Leicester City Football Club confirming the death of chairman Vichai Srivaddhanaprabha: "It is with the deepest regret and a collective broken heart that we confirm our chairman, Vichai Srivaddhanaprabha, was among those to have tragically lost their lives on Saturday evening when a helicopter carrying him and four other people crashed outside King Power Stadium.
"None of the five people on-board survived.
"The primary thoughts of everyone at the club are with the Srivaddhanaprabha family and the families of all those on-board at this time of unspeakable loss.
"In Khun Vichai, the world has lost a great man. A man of kindness, of generosity and a man whose life was defined by the love he devoted to his family and those he so successfully led.
"Leicester City was a family under his leadership. It is as a family that we will grieve his passing and maintain the pursuit of a vision for the club that is now his legacy.
"A book of condolence, which will be shared with the Srivaddhanaprabha family, will be opened at King Power Stadium from 8am on Tuesday October 30 for supporters wishing to pay their respects.
"Supporters unable to visit King Power Stadium that wish to leave a message can do so through an online book of condolence, which will be made available via lcfc.com in due course.
"Both Tuesday's First Team fixture against Southampton in the EFL Cup and the Development Squad fixture against Feyenoord in the Premier League International Cup have been postponed.
"Everyone at the Club has been truly touched by the remarkable response of the football family, whose thoughtful messages of support and solidarity have been deeply appreciated at this difficult time."
He continued: "I don't know how the pilot did it but he seemed to manage to slow down the spinning rotation and it drifted off into the corner part of the car park."
The football club described Srivaddhanaprabha who bought the club for £39million and led it to a first Premier League title in 2015-16 as a "great man".
Hundreds have laid floral tributes, with one footie fan saying "it feels like our king is dead".
Tuesday's first team fixture against Southampton in the EFL Cup and the development squad fixture against Feyenoord in the Premier League International Cup has been postponed.
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