Jon Moulton, head of Alchemy Partners, is understood to have been receiving more than £100,000 a day from BMW for work on Alchemy's abortive bid to buy Rover. The highly unusual fee, which tops £5m, was arranged before the venture capitalist opened detailed talks with the German car manufacturer, which has now set an end-of-month deadline to dispose of the ailing car operation. Mr Moulton, who has blamed a series of complex legal hurdles imposed by BMW for the decision to end negotiations after six weeks, expects to make a profit after the detailed talks to buy Rover.