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Its real goal may be deeper. It may, in fact, be designed by a group closely connected to former premier Thaksin Shinawatra - the "Big Boss" in the UK - as a vehicle to counter attack against the "Gang of Four".

The Gang of Four is led by banned Thai Rak Thai executive Newin Chidchob, Prime Minister Samak Sundaravej, PPP secretary-general Surapong Suebwonglee, and Samak's secretary-general Teerapol Noprampa. They have reportedly been looking at founding a new party too.

The rival group is made up of the former Wang Bua Ban faction led by deposed prime minister Thaksin's sister Yaowapa Wongsawat plus a range of other groups from the North and Bangkok. They include northern groups led by Yongyuth Tiyapairat and Pongsak Raktapongpaisal, the Bangkok group led by Sudarat Keyuraphan, the Ban Rim Klong group led by Chalerm Yoobumrung, the Isaan Pattana faction led by Preecha Rengsomboonsuk, plus the Samut Prakan group led by Pracha Prasobdee, and Korat group led by Somchai Petprasert.

The mass founding of Pheu Thai is aimed at limiting the Gang of Four's power and growth. In terms of funding, many People Power MPs would rather stay with the Big Boss than join a new party run by Newin, Samak and Surapong.

Breaking away from Thaksin is proving a tough challenge for many MPs. Previously, members of Thai Rak Thai's Wang Nam Yom faction led by Somsak Thepsuthin, which broke away to form the Matchima Thipataya Party, "returned to the fold" by joining PPP, instead of staying with Somsak.

In the middle of last month, the People Power office in Phichit's Muang district became the first to replace its PPP logo with that of Pheu Thai. Sunee Luengwijit, a right-hand man of Pongsak, was the first person to declare himself a member of Pheu Thai.

The Election Commission endorsed registration of Pheu Thai on September 20 last year. Its 16-member party executive board is closely linked to the "Big Boss".

Banjongsak Wongrattanawan was listed as party leader. He is close to the People Power Chiang Mai MP Boonsong Teriyapirom, who is a right-hand man of Yaowapa.

Pheu Thai's secretary-general Olan Kitlertpairoj is a cousin of PPP treasurer and Samut Prakan MP Songkram Kijlertpairoj.

Songkram is also managing director of Imperial Plaza, a company that sponsored an office at Big C department store in Lat Phrao for People Television (PTV) and Democratic Alliance Against Dictatorship (DAAD).

A number of People Power members, including failed candidates, have quit the ruling party to join the new party.

Some PPP MPs, including Surapong Tovichakchaikul, from Chiang Mai, and Paijit Sriworakhan from Nakhon Phanom, plus legal expert and ex-MP Wattana Sengpairoh, have made it clear they would prefer to move to Pheu Thai if People Power is dissolved. They are members of key factions in the ruling party.

Connections between the PPP and the new party are obvious.

Pheu Thai's headquarters are in a building in Bangkok's Bang Kho Laem district, which previously housed the Thai Rak Thai Party's head office at a time when Chaturon Chaisang served as caretaker party leader. That was in 2006, when party leader and prime minister Thaksin was forced to flee to Britain after the coup.

The new party's logo, the letter Phor Phan in the three colours of the national flag, looks suspiciously like that of the PPP and its past incarnation, Thai Rak Thai.

Pheu Thai's motto, "People are the Heart", is no different from that of the hugely popular Thai Rak Thai.

It shows these politicians believe Thaksin's name and populist policies still sell.

This political game is like trying to shut a door on Newin. When Newin realised this, he announced he would soon fly to London to clear the air with Thaksin, but, it's hard to say if Newin will be able to clear the air, and whether another door will open for him.