Striker Jamie Vardy recently spoke of the squad's desire to earn a victory against Cardiff in honour of Srivaddhanaprabha, and Demarai Gray's 55th-minute victor proved to be an emotional tribute to the man who helped transform the club.
"It's been a unusual week, surreal really, and I'm glad it's out of the way if I'm honest", manager Neil Warnock said.
Newcastle claimed its first league victory in 11 games by defeating Watford 1-0.
The visitors had warmed up for the game in special T-shirts bearing tributes to Vichai, a Thai billionaire. I'm glad we got three points for him.
"He took us in as his extended family and that's exactly what we did with him".
Cardiff pushed hard in the closing stages, but Leicester - who might have added a second when Vardy was smartly thwarted by Etheridge - held firm to claim maximum points after a challenging and emotional week.
"It's one thing building a team and a club that can perform on the pitch, but we're more proud of the family that he's created and the feeling he's instilled in everybody being welcome".
The majority of Leicester's players, manager Claude Puel and senior staff were due to fly to Thailand immediately after the Cardiff match to join what is likely to be a week-long funeral for Vichai.
The 22-year-old was booked after taking off his shirt in celebration, revealing the message "For Kun Vichai".
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And following the win, Leicester's team and coaching staff stayed behind long after the game and celebrated with the traveling fans in incredible scenes.
On any other weekend, the showdown between revitalized Arsenal and title-chasing Liverpool would have hogged the spotlight which instead shone on Leicester.
Milner eventually gave Liverpool the lead on the hour after goalkeeper Bernd Leno spilled a cross, but Alexandre Lacazette equalized with a curling shot in the 82nd minute after good work by the impressive Alex Iwobi. It was a good balance between emotion and concentration, which is hard.
Though the draw moved unbeaten Liverpool top of the table, they were left to rue dropped points. "In every single game from now on, Vichai will be in our minds".
On the south coast, Manchester United's late win, via a Marcus Rashford strike, failed to alleviate Jose Mourinho's disappointment at another below-par performance.
Tottenham climbed to fourth place with a thrilling 3-2 win at Wolves.
However, Premier League debutant Juan Foyth gave away two penalties which were converted by Wolves' Ruben Neves and Raul Jimenez to leave Spurs clinging on until the final whistle.