Srivaddhanaprabha, who bought the club in 2010, made Leicester an established Premier League club, famously winning the title in 2016, and was universally respected by everyone involved with the club.
"So sad to hear the news that confirms the chairman of Leicester City football club Vichal Srivaddhanaprabha was one of the people who has lost his life on Saturday evening following the tragic helicopter accident", Schwarzer said.
The other victims included two members of Vichai's staff, Nursara Suknamai and Kaveporn Punpare, pilot Eric Swaffer and the pilot's girlfriend, Izabela Roza Lechowicz, also a pilot. You touched everyone. It didn't matter who it was, you had time for them. It then plummeted to the ground and burst into flames.
Chris Kamara pays tribute to the victims in the Leicester helicopter crash.
On Monday, a wreath was laid by Mr Srivaddhanaprabha's family, along with hundreds of other tributes left by fans.
Clearing the club's debts and donating millions to the city's Royal Infirmary hospital, university and new children's hospital were just a few of his contributions to a city he warmed to so quickly.
"The future is looking bright or at least it was looking bright". The company was founded in 1989 when it set up its first duty-free shop at Mahtun Plaza. It continued to prosper even after Thaksin's ousting in a coup that year.
"Well you know where we were when he bought the club - we were absolutely nowhere".
"I was lucky to have known Vichai for several years".
The Italian maker of the helicopter, Leonardo SpA, said it was ready to assist the investigation.
Leicester's next game, which had been scheduled for Tuesday against Southampton in the League Cup, has been postponed.
Aiyawatt, along with other senior members of the King Power Group, are in favour of renaming the King Power Stadium, the Khun Vichai Stadium.More news: Let's Play Red Dead Redemption 2
It said that as a mark of respect to those who died, players would wear black armbands at all EFL fixtures over the next seven days.
As a known generous donor to local causes and the architect of Leicester City's fairy tale Premier League triumph, chairman Vichai Srivaddhanaprabha quickly became one of the most loved figures in Leicester.
The helicopter crashed in a ball of flames in the club's auto park on Saturday after a Premier League match. Eyewitnesses say the chopper just cleared the roof of the stand as it developed a snag and crashed onto the auto park.
Police have not given an update on the investigation but wrote on Twitter its drone "was not in flight at the time the helicopter left the stadium".
"Within a second it dropped like a stone to the floor.Luckily it did spiral for a little while and everybody sort of ran, sort of scattered. As far as we're concerned, that's it".
DMU's rowing club highlighted the inspiration that Mr Vichai had given them and thanked the emergency services for their response to the crash.
The latest Forbes list names him as Thailand's fifth richest man.
"Today, our inspectors in Farnborough will start working on the recorder, which was subject to intense heat as a result of the post-accident fire", according to a statement from the AAIB, which investigates all civil aircraft accidents in Britain.
Jamie Vardy, Kasper Schmeichel and Harry Maguire - as well as manager Claude Puel and the rest of the squad - did a lap of the cordon placed around the flowers.
Freelance photographer Ryan Brown was covering the game and saw the helicopter clear the stadium before it crashed, the BBC reported. I am devastated and can't quite process what has happened but we will do our best to help this club grow.
Leicester had played a league match at home against West Ham United earlier on Saturday, drawing 1-1.
"King Power's most important business is based on a monopolistic concessionary right granted by the government", explained Pavida Pananond, an academic at Thammasat Business School told AFP.