A helicopter belonging to Vickay Srivadhanabraba, owner of Leicester City, crashed into the club's garage and turned into a ball of fire on Saturday after a Premier League game.
The helicopter got out of control and crashed a few meters from the pitch about an hour later.
A witness said the helicopter overtook the stadium before it began to turn around. Then it fell to the ground and turned into tongues of flame.
It was not clear whether the owner of the English club was on board the helicopter, but was present in the game that ended before the incident an hour and a quarter.
"We are helping Leicestershire and emergency services in dealing with a major incident at King Power Stadium," a spokesman said.
Police and ambulance services urged people to stay away from the scene.
John Butcher, who was close to the stadium at the time of the incident, told the BBC that his nephew had seen the helicopter out of control due to a defect in the rear fan.
"In seconds it fell like a stone on the ground ... Luckily it ran around for a while and everybody ran, as far as we know, no one in the garage was hurt in this problem," he said.
In Thailand, King Power officials said they could not comment on the incident.
Vickay, owner of Leicester, is a popular figure after buying the underdog club in central England in 2010 before going on to miss the world of football and winning the league title in 2016.
According to Forbes, Vekai is the fifth richest person in Thailand with a fortune of $ 4.9 billion.
Leicester Sher police said a team from the Department of Transportation's Aviation Accident Investigation Department had taken charge of investigating the cause of the accident.
