Fund manager Jeremy Hosking is funding a campaign to oust up to 140 pro-Remain MPs in electorates that voted to leave the European Union.
Conservative candidates will be able to apply for up to £5,000 of funding from Hosking, who co-founded Marathon Asset Management and has since set up a new boutique manager, leaving him with a potential bill of £700,000, The Guardian reports.
Hosking says the aim of the project is to seize seats that usually vote Labour and to provide Theresa May with an “army” of pro-Brexit MPs that was “fully equipped and as big as possible”.
Most of the eligible seats will be in the Midlands and northern England.
Hosking gave about £1.7m to the official Vote Leave campaign in the lead up to the Brexit vote and also gave £100,000 to the Conservatives in the last election.
“The only way to ensure ‘No Backsliding on Brexit’ is to back the prime minister to the fullest extent,” Hosking says.
In contrast to Hosking, SCM Direct co-founder Gina Miller has thrown her support behind 16 candidates who will not ruling out leaving the European Union.