The Leicester police said in statement: "We are dealing with an incident in the vicinity of the King Power Stadium.
Vichai lives in Thailand most of the time and he was not seen during the club's 1-1 draw with West Ham Saturday afternoon. It is his son Aiyawatt who is responsible for the daily club management.
"The club will issue a more detailed statement once further information has been established."
"Emergency services are aware and dealing."
A video footage posted to Twitter showed a large fire burned in the wreckage in a car park near the stadium.
LONDON, Oct. 27 (Xinhua) -- English Premier League side Leicester City owner's helicopter crashed outside the club's King Power Stadium shortly after taking off from the pitch on Saturday.
It is not clear whether Vichai Srivaddhanaprabha, the Thai businessman who bought the club in 2010, and his son Aiyawatt, the club vice chairman, were on board.
A Leicester City spokesman said in a statement: "We are assisting Leicestershire Police and the Emergency Services in dealing with a major incident at King Power Stadium.
John, a Leicester fan, told Sky that he was in the club bar when the helicopter spun out of control.
The Thai family made history for the club, leading them to promotion to the Premier League and then shocking the world by taking the club to Premier League champions in the 2015-2016 season.
He said: "We was in the bar facing the King Power - my nephew was in a real state of shock. He said he saw this helicopter out of control then drop within a second and burst into flames. He was so upset - we're all thinking about the owners here and what they've done for the football club. It's awful, you can't believe it."
The helicopter always takes top club officials before each match and takes off from the pitch after the match.