UKIP's principal donor admits the party is in a "hell of a mess" and says he may pull his funding after Raheem Kassam pulled out of the leadership race.
However Arron Banks, who founded the Leave.EU campaign as well as ploughing millions of pounds into UKIP, also told Julia Hartley-Brewer that interim leader Nigel Farage should be knighted.
Kassam pulled out of the race today to leave just four candidates - Suzanne Evans, Paul Nuttall, John Rees Evan and Peter Whittle - in the race.
Banks told Julia that Kassam “would have been the best person to keep the party going in the direction Nigel had it going in," so this decision leaves the party "in a pretty poor state of affairs."
He added that because of this he may not continue to fund the party as “UKIP is in a hell of a mess." Without Farage, he said, there's no one to keep "fractions within the party under control."
Evans, Nuttall and Kassam have all called for Mr Farage to be given a peerage.
Banks told Julia Hartley-Brewer that Mr Farage shouldn’t be a Lord because The House of Lords is "a collection of cast-out politicians." Instead, he said, the UKIP figurehead needs “something better, like a knighthood, which implies you’ve actually done something."
Listen to the full interview above