A helicopter crash outside Leicester City Stadium on 27 October 2018 claimed the life of Vichai Srivaddhanaprabha, the Thai billionaire who transformed English football. Born Vichai Raksriaksorn in 1958, he rose to prominence as the founder and chairman of King Power, an operator of duty-free retail businesses that secured a royal warrant from King Bhumibol of Thailand in 2009.
Business and Royal Recognition
Vichai founded King Power, which became a significant force in the duty-free sector. His professional stature in Thailand was reinforced in December 2009 when he received a royal warrant from King Bhumibol. By October 2018, Forbes magazine listed him as the fifth-richest individual in Thailand, estimating his net worth at US$4.9 billion. His formative years included studies in Taiwan and the United States, providing a global perspective for his business activities.
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His connection to English football began after he watched the 1997 League Cup final between Leicester City and Middlesbrough. In August 2010, an Asia Football Investments consortium including Vichai and his son Aiyawatt acquired Leicester City. He succeeded Milan Mandarić as chairman in February 2011, and the club’s home ground was rebranded as King Power Stadium that July. Under his tenure, the club famously won the 2015–16 Premier League title as 5000/1 underdogs. In 2017, he expanded his sporting portfolio by purchasing the Belgian club OH Leuven.
Personal Life and Cultural Interests
Born into a Thai Chinese family, he was the son of Wiwat Raksriaksorn. In 2012, King Bhumibol Adulyadej granted the family the surname Srivaddhanaprabha, translating to 'light of progressive glory.' Beyond business, he was a dedicated polo player, owning the VR Polo Club in Bangkok and serving as president of London’s Ham Polo Club between 2008 and 2012. He frequently sought spiritual support from Buddhist monks, including Phra Prommangkalachan, to bless his teams. His son Aiyawatt even spent a month ordained as a monk in 2015.
Legacy and Legal Proceedings
Following his death in the 2018 helicopter crash, which also claimed the lives of two pilots and two passengers, his funeral spanned eight days in accordance with Thai customs. In 2019, he received the Outstanding Contribution to the Community Award from The Asian Awards. In January 2025, his family initiated legal action against Leonardo, the manufacturer of the AgustaWestland AW169 involved in the incident, seeking damages exceeding £2 billion for loss of earnings.
Fast facts
- Born: 1958, Bangkok, Thailand
- Died: 27 October 2018, Leicester City Stadium
- Primary Business: King Power
- Leicester City Chairman: 2011–2018
- Academic Honor: Doctor of Laws, University of Leicester (2016)
- Children: Voramas, Apichet, Aroonroong, and Aiyawatt
- Polo Affiliation: President, Ham Polo Club (2008–2012)
- Surname Meaning: Light of progressive glory
Questions readers ask
How did Vichai Srivaddhanaprabha acquire Leicester City?
He purchased the club in August 2010 through the Asia Football Investments consortium, which included his son, Aiyawatt.
What is the status of the legal case regarding his death?
In January 2025, his family launched a lawsuit against the helicopter manufacturer, Leonardo, for over £2 billion.
Achievements
- Affiliated with King Power
- Worked as businessperson, polo player and entrepreneur
