Police and emergency services work at the scene of an accident at The King Power Stadium on October 27, 2018 in Leicester, England.
It was under the ownership of Srivaddhanaprabha that Leicester created one of the biggest shocks in English football history by winning the 2015/16 Premier League, having started the season as 5,000/1 outsiders for the title.
It was not known whether Mr Vichai was in the helicopter that had taken off from the stadium just moments earlier.
It is not clear who was on board.
A BT Sport broadcast appears to capture the sound of the helicopter bursting into flame as Jake Humphrey and Owen Hargreaves discuss matters of football on Premier League Tonight after the game.
BBC football commentator Ian Stringer said the helicopter was "spiralling", and that eyewitnesses said it "came down like a stone".
Leicester players Harry Maguire and Wilfred Ndidi tweeted the emoji of praying hands after drawing with West Ham 1-1.
With emergency services arriving on the scene, the helicopter could be seen engulfed in flames.
Srivaddhanaprabha bought Leicester in 2010 and became chairman the following February.
"He was not at the game, I'm told".
"I turned round and it was spinning out of control".
"It crashed literally near the stadium".
"Failure, upon take off, resulted in a fire prior to a crash in the auto park".
"By the looks of it, it crashed just straight into the ground".