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UKIP leader Nigel Farage will rely on City fatcats to bankroll his party election.

In a report to the party’s national executive, he says “the key money for us will be the hedge fund industry”.

And the Mirror can reveal UKIP has received £22,000 from a hedge fund boss ­profiting from zero hours deals, even though Mr Farage has claimed such practices are “just not on”.

The money was donated by Crispin Odey, whose Odey Asset Management has sold £105million of Sports Direct shares and still has a 5% stake in the company criticised over the contracts.

A source at OAM said Crispin donated “small amounts to individuals of all political leanings”.

UKIP claimed the link between Mr Farage, Mr Odey and Sports Direct was “tenuous”.

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It’s not the first time ex-Tory donor Mr Odey, who earned nearly £48million in the year to April, has come to Mr Farage’s aid.

Sixteen months ago it emerged the hedge fund boss hosted a bash so the UKIP chief could meet City contacts who could help fund election campaigns.

Mr Odey’s UKIP donations came less than two years after former City trader Mr Farage admitted the party needed cash from rich financiers.

He boasts about meeting “a billionaire businessman in Geneva” in an internal report dated September 3, 2012, adding: “The key to money for us will be the hedge fund industry.”

Two months later, as UKIP prepared for the party’s 2012 conference, Mr Farage apparently encouraged the use of exhibition stalls as a “tax efficient” fundraising tactic.

£32k UKIP money from Crispin Odey

Minutes reveal: “Nigel Farage feels that Expo [stands] is a tax-efficient way for money to be given to UKIP.”

He has previously admitted setting up a trust fund in an offshore tax haven which could have enabled him to cut his tax bill - despite branding “rich people” and “successful companies evading tax” as “the enemy”.

UKIP has also been keen to promote candidates it believes will cosy up to City money men.

MEP Steve Woolfe was highlighted as crucial to encouraging businessmen to donate to the party, with leaked documents detailing how he “will connect with people in the City”.

And Mr Farage was brutally critical of a party candidate, saying: “We could not take him to meet the large City donors.”

Today it emerged the UKIP leader feared allegations of racism could “bury” the party.

Minutes of party officials discussing offensive comments made by a UKIP candidate reveal Mr Farage warned: “The one thing that is able to bury the party if [sic] they can link us with a racist age.”