Hull City's Assem Allam Offers To Fund Labour MP Breakaway
It follows the election of new leader Jeremy Corbyn.
Hull City owner Assem Allam has offered to support Labour MPs who want to break away from the party following Jeremy Corbyn's election as leader.
The Times says the millionaire businessman is willing to fund those who want to start a centrist party or defect to the Lib Dems.
Allam, who has donated £720,000 to Labour since 2010, said Mr Corbyn could not provide a "strong opposition" and warned the party could face three further election defeats.
He told The Times he would "do anything I can" to support moderate MPs as he warned "Labour under Comrade Corbyn will not make a government".