By FOX SPORTS Staff
Wenger, who joined Arsenal in 1996, is regarded as one of the club's most successful managers after having led them to three Premier League titles and four FA Cups.
However, the Gunners have not won any major honours in eight years and has seen star players like Cesc Fabregas and Robin Van Persie leave the club for greener pastures.
This has increased the pressure on Wenger, and there have been calls for the former Nagoya Grampus Eight manager's head following yet another disappointing campaign which saw the Gunners exit the Capital One Cup and FA Cup to lower league oppositions (Bradford and Blackburn Rovers respectively), as well as fail to mount a genuine challenge for the Premier League title.
And according to a recent report by the Telegraph, mega-rich oil club Paris Saint-Germain was supposedly the next destination for an under-fire Wenger after the end of the current season.
The Telegraph went on to claim that several senior members of the French outfit had went around telling members of their circle that Wenger had agreed to join the present Ligue 1 leaders after current coach Carlo Ancelotti, allegedly on bad terms with the club's sporting director Leonardo, leaves.
However, Hill-Wood has since come out to deny the validity of these reports.
"I think this is complete nonsense - in fact, I know it is complete nonsense," Hill-Wood was quoted as saying by the Daily Star.
Wenger, whose current contract with Arsenal expires in 2014, has consistently reasserted his stance that he would honour the length of his contract, and Hill-Wood insisted the Frenchman "was not about to change that".
Hill-Wood also claimed that Wenger was 'happy' at Arsenal and dismissed reports that the final year of 63-year-old's contract was optional.
"That is news to me and I would certainly know if there was one," Hill-Wood added.
"He is happy as Larry and the whole thing is complete rubbish."
Arsenal will take on relegated outfit QPR in their next Premier League fixture.