Khun Vichais son and Citys Vice Chairman Aiyawatt Srivaddhanaprabha confirms the news in a personal tribute to his father in a souvenir programme for Saturdays Premier League visit of Burnley.
Complimentary copies will be issued to all supporters attending Saturdays fixture as part of the Clubs tributes to Khun Vichai and the four people that lost their lives in a helicopter accident outside King Power Stadium on 27 October.
Khun Aiyawatt, known affectionately to the Leicester City family as Top, makes the announcement following discussions between the Srivaddhanaprabha family and the Club on the most appropriate way to honour his fathers memory and the Clubs remarkable journey under his Chairmanship.
In the eight years since the Srivaddhanaprabha family took ownership of Leicester City, Khun Vichai helped transform the Club beyond all recognition.
We will never be able to repay what he did for us – for me as his son, us as his family, everyone connected to Leicester City and beyond – but we are committed to honouring his memory and upholding his legacy.
Under his guidance, the Foxes established themselves in English footballs top flight, became Premier League champions and graced the UEFA Champions League for the first time.
His impact on the city of Leicester was immense – donating millions of pounds to worthy causes in the community and uniting supporters like never before with his acts of kindness and generosity.
We will never be able to repay what he did for us – for me as his son, us as his family, everyone connected to Leicester City and beyond – but we are committed to honouring his memory and upholding his legacy, Khun Aiyawatt writes.
Our continued growth as a Club, our state-of-the-art new training ground and our planned stadium expansion will help realise his vision for Leicester City.
I plan to commission a statue of my father, for outside King Power Stadium, as a permanent and fitting tribute to the man that made it all possible.
Further details on the commissioning and the statues positioning at King Power Stadium will be confirmed in due course.
Plans for Saturdays sold-out visit of Burnley include gifts of commemorative scarves, pin badges, clap banners and the souvenir programmes for supporters in attendance, while a very special Tribute to Khun Vichai video will be shown on the big screens at 2:45pm.
Also designated as the Clubs annual Remembrance Fixture, all in attendance will be invited to join a two-minute silence to honour both the sacrifices of servicemen and women in conflicts past and present and the five victims of the tragedy at King Power Stadium on 27 October.
Thousands of Leicester fans are expected to march through the city in tribute to Vichai Srivaddhanaprabha ahead of the clubs first Premier League home game since his death.
Authorities are preparing to guide 20,000 people on a route that starts from Jubilee Square at 12.45pm and finishes at the King Power Stadiums car park E, next to the site of the helicopter crash that claimed the Leicester owners life and those of four others.
The walk covers nearly two miles, travelling along Upperton Road, Raw Dykes Road and Western Boulevard, and is meant to convey the depth of feeling for a man who transformed the club and also assisted the citys charities.
Leicester have said the vast memorial that bloomed outside the ground after the crash following the West Ham game nearly a fortnight ago will be moved by the time Burnley visit on Saturday.
A club statement read: The Srivaddhanaprabha family and everyone at Leicester City Football Club have been deeply moved by the remarkable volume of generous and thoughtful tributes left at King Power Stadium in the wake of the tragedy of 27 October that claimed the lives of five people, including our beloved Chairman Vichai Srivaddhanaprabha.
The extraordinary scenes of compassion and condolence demonstrated on Filbert Way in the last week have been an enormous source of comfort and strength to the families involved and to everyone whose lives have been touched by recent events. The support of our fans, our community and the football world during this darkest of weeks will never be forgotten.
In the spirit of this, ahead of Saturdays visit of Burnley the club will begin the process of carefully and respectfully relocating tributes, ensuring the compassion, kindness and love that have been so evident in the last week are sentiments that will endure.
On Friday 9 November, the final day of Khun Vichais funeral in Bangkok, floral tributes will be relocated to a designated area close to the accident site near the south-east corner of King Power Stadium.
The club would like to invite supporters to be part of this relocation, which is closer to the accident site. Our fans created this stadium tribute, and we dearly wish for you all to be part of the relocation of the flowers, now that the accident site has recently been handed back to the club.
Ahead of kick-off a number of events are planned. A special video will be shown on the big screens at 2:45pm and supporters will be gifted commemorative scarves, pin badges, clap banners and souvenir matchday programmes in honour of Srivaddhanaprabha.
The fixture is also Leicesters annual Remembrance Day commemoration, and a two-minute silence will be observed before the game to honour those sacrifices as well as the five lives lost at King Power Stadium. At half-time, veterans and Armed Forces personnel will parade around the pitch.
Srivaddhanaprabhas name will be embroidered on the teams match shirts during the first half, while the second half jerseys will bear the embroidered poppy symbol.