He was far more liberal than he was initially thought to be.

Juan Carlos snatches the bait and changes direction. He presented himself as a very conservative person who supported the political stance of his grandfather Franco. One of the interesting facts about Juan Carlos is that this act of conservatism is what made Carlos ascend to the throne in the first place. Franco had to pass a law declaring Carlos heir to the throne. Franco rejected other possible candidates because they were too liberal, in his opinion.

However, as soon as Juan Carlos was crowned King of Spain, he showed his true colors as a liberal. One of Carlos' first acts was to appoint Adolfo Suarez as Prime Minister. Suarez is a reformer who will continue to push a liberal agenda. Carlos also encouraged the establishment of political parties in Spain and supported the movement to free political prisoners. Needless to say, this is not what Franco envisioned, but since Franco is dead, there's nothing he can do about it.

Spain's first post-Franco democratic elections took place on June 15, 1977. Juan Carlos acted as a middleman to transfer $10 million from the Shah of Persia to Adolfo Suárez's election campaign, allegedly asking the Shah for money to "save Spain from Marxism". In 1978, the government promulgated a new constitution that recognized Juan Carlos as the rightful heir to the Spanish crown and king.