However, Hill-Wood has catergorically stated that Wenger is staying put, despite reported interest from Bayern Munich and Real Madrid, and has even suggested a new contract will be on the cards.
Related ArticlesAdebayor urges Wenger to spendArsenal 1 Manchester United 3: Match reportArsenal v Manchester United: Man markingArsenal 'babies' taught a lessonArsenal v Manchester UnitedWenger laments 'disappointing' nightAnd Hill-Wood has rubbished suggestions that financial constraints forced Wenger to rely on youth rather than splashing out on proven, world class players.
"That is not strictly correct," Hill-Wood told the Daily Star. "We have never denied Arsene any transfer requests.
"We spent a lot of money on Andrei Arshavin at the beginning of the year. And the money is there is the summer if he wants it. I'm not going to say how much, though, because that would not be helpful to us.
"Arsene's future is not in question, although I am sure there will be people who have nothing better to do trying to suggest this.
"He has another season left on his contract and if he was to ask for an extension we would be delighted. But he hasn't discussed it with us and we haven't discussed it with him. There are other things to think about.
"It is a continuous process. We don't think at the end of the season we have got to do this and got to do that.
"It is something Arsene thinks about all the time. He is a long-term person. He is not trying to have a quick fix."
Striker Emmanuel Adebayor, who has come in for criticism after a poor display against United, is hopeful Wenger will spend big to strengthen the squad.
The Togo international said: "We need some players. We had Hleb go to Barcelona, Flamini go to Milan and it was quite difficulty to play."