The Democrat Party's leadership contest next month is shaping up as a three-horse race between Korn Chatikavanij, Jurin Laksanavisit and Apirak Kosayodhin, according to a party source.
Phiraphan Saleeratthawipak, who has been speculated to enter the race, is unlikely to vie for the party's top post to avoid any potential conflict, said the source.
The selection of the party leader and the new board has been scheduled for May 15.
Mr Phiraphan reportedly enjoys the favour of a group of politicians led by Thaworn Senneam, who wants the party to join a coalition under the Palang Pracharath Party (PPRP).
The Democrat Party is divided over whether to partner with the PPRP, which has nominated Prime Minister Prayut Chan-o-cha as its prime ministerial candidate, or work as an independent opposition.
Shortly before the election, former leader Abhisit Vejjajiva announced he would not support Gen Prayut's return to power.
According to the source, the Democrats have been urged by senior members to avoid commenting on the issue in the media. He said a decision would be made by a new executive board and elected MPs.
Mr Thaworn is said to be considering asking the party to suspend one of its regulations so that members can discuss and vote on whether to join the PPRP.
The Democrat Party held a general assembly on Wednesday which almost collapsed due to a lack of quorum. After two hours it had still not managed to attract the 250 members required for it to legally proceed.
The acting board had proposed not having the quorum stipulation so as not to stall the proceedings.
Chuan Leekpai, the party's chief adviser, extended his moral support to the party executives on Wednesday and called for party unity even though the election failed to go as expected.
Speaking after the meeting, Mr Jurin, the party's acting leader, said the meeting was called to consider and approve a 2018 report on the party's activities and financial documents that will be submitted to the Election Commission (EC).
He said the next meeting would take place on May 15, when a new leader and executive board would be appointed.
This was made necessary after Abhisit Vejjajiva resigned in the wake of the March 24 poll.
Acting party secretary-general Juti Krairiksh said the party has assigned Kanok Wongtrangan to compile a report on its sub-par performance in the general election. The report will be used to improve its policy and campaign work, he said.
The information-gathering process is expected to take three months and the report will explore the party's weaknesses and strengths throughout the country, Mr Juti noted.
The Democrat Party suffered an embarrassing defeat in the general election, losing all of its seats in Bangkok, where it claimed 23 out of 33 in the 2011 election.
Apart from the capital, the Democrats lost seats in the South and lower North, its traditional strongholds.
