Local police reported that they were dealing with "an incident in the vicinity of the King Power Stadium." immediately after news broke of the incident on social media.
Reports suggest that Mr Srivaddhanaprabha was on board the helicopter when it crashed, although an update on his wellbeing and that of any other passengers that may have been with him has not yet come.
The Thai owner, who has been at the helm of the club since 2010, is regularly seen coming and going from the club's stadium on matchdays, taking off from the centre of the pitch.
October 27, 2018
The 'Foxes' had just grabbed a point at the end of a difficult game against West Ham, the result ending up 1-1.
Pictures from the scene show flames engulfing the car park outside the King Power Stadium, with emergency services vehicles present at the scene.
The 'Mirror' reported an eyewitness account: "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.”
Leicester City defender Harry Maguire sent a tweet with prayer emojis, while former Leicester City striker Gary Lineker also tweeted his concern.
No further details have been released.
October 27, 2018