Rafael BenÍtez is preparing to offer an olive branch of sorts when he sits down with Liverpool’s American owners at their forthcoming peace summit, but the manager is not willing to let the club dilute his power or relax their spending in the transfer market, which he maintains is not comparable to that of Manchester United, who visit Anfield on Sunday.

BenÍtez is expected to apologise for his part in the “misunderstanding” that led him to criticise Tom Hicks and George Gillett Jr for their supposed lack of knowledge about transfer matters but, while a conciliatory approach should stabilise his regime for the immediate future, the Spaniard’s position remains precarious in the longer term because of his differences with the board.

The meeting, which will take place either after Sunday’s game or the next day, is designed to resolve those issues and find a way to work together towards a common goal, but there are still clear differences in what BenÍtez and the owners expect of each other with regard to transfer policy.

There were unconfirmed rumours of a board meeting last night to discuss the situation after the arrival of Hicks and Gillett on Merseyside. What is certain is that BenÍtez is not blessed with too many allies on the five-man board, which consists of the two Americans, a son of each and Rick Parry, the chief executive.

BenÍtez is eager to stay on, but some of the noises emanating from Anfield are disconcerting, with the tension likely to be fuelled by the Spaniard’s reminder yesterday that his summer spending - which Hicks viewed as an act of benevolence on his part – did not come near to that of United, the Barclays Premier League champions.

“There’s a misunderstanding when people speak of the money Liverpool have spent,” BenÍtez said. “As between what we have spent and recovered we are at a similar level to those at the top, but not the biggest clubs. Manchester United have spent £70 million this year whereas we spent less than £50 million and recovered £26 million. Many people say we have to win the title because of the money we have spent, but other teams have also spent a lot of money. Arsenal have been spending a lot on young players for years and now are reaping the rewards.”

The figures are open to debate – particularly as much of United’s projected £37.5 million outlay on Anderson and Nani is weighted on their future success – but BenÍtez has a point, albeit a sensitive one. He will ask the board to release more funds to sign a central defender in the January transfer window and will recommend that they proceed with a £17 million deal for the permanent capture of Javier Mascherano, even though the board would prefer to wait until June. Beyond that, he is eager to restore the harmony that existed at Anfield at the start of the season, rather than risk undoing the progress that Liverpool have made in 3½ years under his stewardship.

“It’s simple,” BenÍtez said. “They [the board] want to win and I want to win. We saw that we have some weaknesses [in the squad] and we will hope to find some solutions. If you analyse the last three years, everything is going in the right direction.

We all had the same ideas before and everything was good, so we just have to find a solution to the misunderstanding.”

However, things have changed behind the scenes at Anfield, with BenÍtez urged to leave all transfer negotiations to Parry. That is another source of tension, with the manager insistent that his role will not be diminished, even unofficially, to that of head coach. “I’m the manager, so I manage,” he said. “But it’s not a big problem. They [Hicks and Gillett] will be on my Christmas card list. I am sure I will be on theirs also.”