Mandaric was a former owner of several football clubs, including Portsmouth, Leicester City, and Sheffield Wednesday.
He passed away at a hospital in Belgrade, the capital of Serbia, on Saturday after a short illness.
Mandaric had a long and varied career in football, with his most recent role being vice-president of Vojvodina, a team based in the city of Novi Sad where he grew up.
During his time in football, Mandaric owned Portsmouth from 1999 to 2006, Leicester City from 2007 to 2010, and Sheffield Wednesday between 2010 and 2015.
A family statement paid tribute to Mandaric, saying that his love for football was only surpassed by his love for his family.
His family will miss him dearly, including
