Fransisco Franco, the dictator of Spain from 1939 to 1975, was a monarchist. Yet for the entirety of his time in office, there was no king of Spain. Only in 1969 did he appoint Juan Carlos I to be the next king of Spain, but he arranged it so that Juan Carlos I would only assume the throne after Franco's death.
My question is, why did Franco not reestablish the Spanish monarchy while he was still in office? Is it that he didn't want a competing power center, even if he supported the notion of monarchy in principle? If so, was that the official justification he gave the people, or did he give a pretext that was less self-serving?