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The owner of eicester, Vichai Srivaddhanaprabha, follows the Premier League match between Leicester City and West Ham United at King Power Stadium on May 5, 2018 in Leicester, England. (Photo: Michael Regan / Getty Images).
The duty-free magnate and owner of Leicester City Vichai Srivaddhanaprabha died in a helicopter crash in front of the club's King Power Stadium after the Foxes Premier League match on Saturday night.
Vichai, 60, and four other people were killed when the helicopter they were traveling in crashed near a parking lot just outside the stadium, shortly after taking off from the ground . Sunday night, Leicester City confirmed the loss of its owner.
"It is with deep regret and a broken heart that we confirm that our president, Vichai Srivaddhanaprabha, was among those who tragically lost their lives Saturday night when a helicopter carrying him with four other people crashed in front of King Stadium. Power, "said the president. club said in a statement.
The Leicestershire police named the other four passengers as the two pilots and the two Vichai staff members. The owner of Leicester City had the habit of using the helicopter on match days to move between the stadium and London.
Vichai was ranked the 5th richest person on the Thai wealth list in May, with a fortune estimated at $ 5.2 billion. His business empire was primarily based on King Power, the country's largest duty-free operator.
Born Vichai Raksriaksorn, he changed his name when the monarchy awarded him the honorary title Srivaddhanaprabha, which means "light of progressive glory".
King Power began in the late 1980s, when Vichai partnered with a group in Hong Kong, purchased a franchise for the sale of duty-free products, and then opened its first duty-free store in Bangkok. .
King Power was formerly a publicly traded company trading in Hong Kong, Macao, Singapore and Cambodia. Vichai and other Thai shareholders waged a two-year legal battle and spent millions of dollars to buy the company from other shareholders and privatize it in 2003.
Another turning point came in 2006, when King Power obtained from the government of former Prime Minister Thaksin Shinawatra the Suvarnabhumi airport concession, located at Suvarnabhumi airport, for its very activity. lively. Although the company's contract is due to end in 2020, King Power has already achieved annual sales of $ 3.3 billion.
Vichai also held a minority stake in the Thai unit of AirAsia, the low-cost company controlled by Malaysian flairist Tony Fernandes. Outside of his home country, Vichai was best known for his purchase of the English football club Leicester City in 2010, which was in debt and in debt and which marked the history of the sport six years later by winning the English Premier League Championship, the club's first in 132 years. l & # 39; history.
More on Forbes: Tycoon Vichai, a retailer, uses its low-budget budget strategy to win the championship
The Leicester City payroll was among the lowest in the league: $ 70 million, about a quarter of what Manchester United and Chelsea were spending at the time. Rather than spending big money for big names, Vichai named Claudio Ranieri as manager and exploited strangers like striker Jamie Vardy, who broke the record for consecutive goals and was named footballer of the year 2015-2016 .
After learning the tragedy, Vardy wrote on Instagram: "It's hard to find the right words … But for me, you're a legend, an incredible man who had the biggest heart, the soul of the football club from Leicester City. Thank you for everything you have done for me, my family and our club. I'm really going to miss you … May you rest in peace … # theboss "
Leicester City fans visited the stadium on Sunday to bring flowers and scarves bearing the club's emblem, as well as messages of gratitude to Vichai's family.
Supporters stop in front of the floral tribute in front of King Power Stadium in Leicester on October 28, 2018 (Photo: Ben Stansall / AFP / Getty Images).
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The owner of eicester, Vichai Srivaddhanaprabha, follows the Premier League match between Leicester City and West Ham United at King Power Stadium on May 5, 2018 in Leicester, England. (Photo: Michael Regan / Getty Images).
The duty-free magnate and owner of Leicester City Vichai Srivaddhanaprabha died in a helicopter crash in front of the club's King Power Stadium after the Foxes Premier League match on Saturday night.
Vichai, 60, and four other people were killed when the helicopter they were traveling in crashed near a parking lot just outside the stadium, shortly after taking off from the ground . Sunday night, Leicester City confirmed the loss of its owner.
"It is with deep regret and a broken heart that we confirm that our president, Vichai Srivaddhanaprabha, was among those who tragically lost their lives Saturday night when a helicopter carrying him with four other people crashed in front of King Stadium. Power, "said the president. club said in a statement.
The Leicestershire police named the other four passengers as the two pilots and the two Vichai staff members. The owner of Leicester City had the habit of using the helicopter on match days to move between the stadium and London.
Vichai was ranked the 5th richest person on the Thai wealth list in May, with a fortune estimated at $ 5.2 billion. His business empire was primarily based on King Power, the country's largest duty-free operator.
Born Vichai Raksriaksorn, he changed his name when the monarchy awarded him the honorary title Srivaddhanaprabha, which means "light of progressive glory".
King Power began in the late 1980s, when Vichai partnered with a group in Hong Kong, purchased a franchise for the sale of duty-free products, and then opened its first duty-free store in Bangkok. .
King Power was formerly a publicly traded company trading in Hong Kong, Macao, Singapore and Cambodia. Vichai and other Thai shareholders waged a two-year legal battle and spent millions of dollars to buy the company from other shareholders and privatize it in 2003.
Another turning point came in 2006, when King Power obtained from the government of former Prime Minister Thaksin Shinawatra the Suvarnabhumi airport concession, located at Suvarnabhumi airport, for its very activity. lively. Although the company's contract is due to end in 2020, King Power has already achieved annual sales of $ 3.3 billion.
Vichai also held a minority stake in the Thai unit of AirAsia, the low-cost company controlled by Malaysian flairist Tony Fernandes. Outside of his home country, Vichai was best known for his purchase of the English football club Leicester City in 2010, which was in debt and in debt and which marked the history of the sport six years later by winning the English Premier League Championship, the club's first in 132 years. l & # 39; history.
More on Forbes: Tycoon Vichai, a retailer, uses its low-budget budget strategy to win the championship
The Leicester City payroll was among the lowest in the league: $ 70 million, about a quarter of what Manchester United and Chelsea were spending at the time. Rather than spending big money for big names, Vichai named Claudio Ranieri as manager and exploited strangers like striker Jamie Vardy, who broke the record for consecutive goals and was named footballer of the year 2015-2016 .
After learning the tragedy, Vardy wrote on Instagram: "It's hard to find the right words … But for me, you're a legend, an incredible man who had the biggest heart, the soul of the football club from Leicester City. Thank you for everything you have done for me, my family and our club. I'm really going to miss you … May you rest in peace … # theboss "
Leicester City fans visited the stadium on Sunday to bring flowers and scarves bearing the club's emblem, as well as messages of gratitude to Vichai's family.
Supporters stop in front of the floral tribute in front of King Power Stadium in Leicester on October 28, 2018 (Photo: Ben Stansall / AFP / Getty Images).
