Vichai Srivaddhanaprabha was among five people who died in the helicopter crash in Leicester on Saturday evening, it was confirmed late on Sunday night.
The 60-year-old, owner of Leicester City Football Club and a rising force in racing, was killed when his helicopter crashed and burst into flames shortly after lifting off at about 8.30pm.
Police have said the other four people were believed to be two of Srivaddhanaprabha's staff - Nursara Suknamai and Kaveporn Punpare - plus pilot Eric Swaffer, and passenger Izabela Roza Lechowicz.
A statement issued by Leicester City read: "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.
Srivaddhanaprabha was best known as the billionaire who bought Leicester City for £39 million and helped transform them into Premier League champions after they had been 5,000-1 chances.
He was also making a significant impact in racing with the ambition, plus wealth, to ruffle the feathers of superpowers such as Coolmore and Godolphin in the years to come.
Tributes have been placed near the scene of the fatal Leicester helicopter crash
Only this month, he was again among the big buyers at the Book One Sale at Tattersalls in Newmarket. Twelve months ago, at the same sale, his purchases included four offspring by Frankel, including a filly who cost 2,500,000 guineas.
His horses ran under the banner of King Power Racing and he, plus family members, were regulars at the races.
Since July of last year, when he had his first runner, he had enjoyed 49 triumphs. The momentum was building, with 28 of those victories achieved since July.
This year, 52 horses represented him. It is difficult to know exactly how many horses he owned, given others will be unraced or not in training, plus his recent purchases.
Twenty-nine of the 52 who ran for him this year are trained by Andrew Balding, with Ralph Beckett (eight) and Richard Hannon (seven) also earning his patronage.
He also had runners this term trained by Paul Cole, David Elsworth, David Evans, Tim Easterby, Martyn Meade and John Gosden.
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14:30 Sandown-Park - Saturday November 9
Morando and Young Rascal are locked together at Newbury on Saturday afternoon
At Newbury on Saturday afternoon, his Morando shared the spoils with Young Rascal in a thrilling St Simon Stakes at Newbury. And at Doncaster, Happy Power had been a taking winner for him.
Earlier on the Newbury card, King Power, the Frankel half-sister to oaks winner Talent, who he had purchased for 2,500,000gns had finished fifth on her debut.
The previous week Donjuant Triumphant had finished third for him in the Sprint on QIPCO British Champions Day at Ascot. His best horse, Beat The Bank, a triple Group two winner this summer, finished down the field in the Queen Elizabeth II Stakes for the second year in succession soon after.
Twelve months earlier,
Beat The Bank had come under scrutiny from the BHA on Champions Day after one of Srivaddhanaprabha’s entourage had apparently sprayed Holy Water on the legs of the horse in the saddling area.
They had hoped the liquid, blessed by a religious figure and used in many religions for protection against evil, would help the four-year-old lift the £1.1 million prize.
But he never figured and the BHA sent the liquid off for analysis.
“He’s a big racing fan and he’s had horses in Singapore,” Balding told the Daily Telegraph beforehand. “He’s always wanted to have horses in England. He’s put a lot of thought into it.
“Jon Rudkin, his director of football at Leicester, has been very involved, and they’ve taken some time and trouble to get everything right. It was great at the sales. He was heavily involved in every purchase, at the end of a phone. We tried to point him in the right direction but ultimately he made the decisions.”
Many of his horses had connotations with his beloved Leicester.
Only 12 days ago, Come On Leicester, a two-year-old trained by Hannon, won at Leicester.
Superintendent Steve Potter said: “This is an incredibly tragic incident in which five people are understood have lost their lives.
“Emergency services were immediately on scene when the crash happened, working to put out the fire and gain access to the helicopter in attempts to reach those inside. Despite those efforts, there were no survivors.
“The AAIB is now leading an investigation to establish the exact circumstances surrounding the crash and investigators will remain at the scene to complete their initial enquiries.
“It is likely to take several days to fully complete the necessary work and to safely deal with the scene of this tragic accident, during that time we ask that both the media and public resist speculating around the cause of the crash.
“Our thoughts today are with the families of those who have sadly died, with Leicester City Football Club, and with both football supporters and the wider local community who have all been impacted by the events of last night and the news that those on board the aircraft have not survived.”
The air accident watchdog has launched an investigation into why the aircraft fell to earth in a car park near the stadium a few hours after Leicester drew 1-1 with West Ham.
Witnesses said the helicopter seemed to spiral out of control moments after it set off from Leicester’s King Power Stadium and plummeted into the car park. .