The political turmoil in Thailand may have cast a long shadow over Thaksin Shinawatra’s takeover of Manchester City, but there were more encouraging signs for the country’s former Prime Minister this week as he attempts to escape a series of corruption charges and reclaim a fortune in frozen assets.

Having been overthrown by a military junta, Thaksin could afford a smile on Monday as Maha Vajiralongkorn, Thailand’s Crown Prince, opened the first elected parliament since the bloodless coup 16 months ago. It comes two days after the People Power Party (PPP), whose pro-Thaksin stance won them the most seats in last month’s elections, announced a six-party coalition that will give them control of about two thirds of Thailand’s 480-seat parliament.

With so many allies in the PPP, which was built more or less from the remnants of the deposed premier’s Thai Rak Thai Party, Thaksin has regained significant political clout, although, with about £1.3 billion of assets frozen and two corruption charges hanging over him, the Manchester City owner knows that he must tread carefully as he tries to find a way to pacify the royalist forces in the military who were behind the coup and retain some power.

Thaksin has been in self-imposed exile in London since the coup, but he said recently that he plans to return to his homeland by April. However, it is thought that he may do so before then. He appeared to be testing the waters when he allowed his wife, Potjaman, who faces the same corruption charges relating to a land deal and the alleged violation of stock-trading laws, to return to Thailand last week. She was arrested, bailed and told that she could not leave the country, but the reaction to her was not nearly as severe as Thaksin feared it might have been when the junta was still in charge.

Although Thaksin has spent a lot of his time in England, flitting between London and Manchester, that is not his intention in the long term and he is thought to favour the idea of appointing an executive chairman at City to handle most of the club’s business.

He expressed surprise recently at the costs involved in running a football club, but, while he remains committed to backing Sven-Göran Eriksson in the transfer market, the prospect of regular outlays of £40 million – the amount City spent last summer – are unlikely even in the event that the Thai’s assets are unfrozen. Eriksson, the manager, is hopeful of signing a striker on loan and possibly a midfield player, before the close of the transfer window in eight days’ time, but offloading players and lowering the wage bill remain equally important.