PA Sport - Wed, 14 Apr 13:21:00 2010
Speculation has long linked the Arsenal captain with a return to the Catalan club, where he spent several years as a youth player before moving to North London.
Barca star Lionel Messi said he believed it was just a matter of time before Fabregas returned to the Camp Nou as he "has Barcelona in his blood".
However Hill-Wood is convinced a deal is not in the pipeline as the Spanish champions are happy with their current crop of players.
Speaking to ESPN Soccernet, Hill-Wood revealed that high-level talks between the clubs during their recent Champions League tie ruled out the possibility of Fabregas joining up with Pep Guardiola's side any time soon.
"There was a private conversation that took place in the boardroom and assurances have been made at the highest possible level," Hill-Wood said. "Arsenal do not expect those to be broken.
"I was not privy to the conversation, but was told about it. They said to us they are not interested (this summer).
"It was a recent conversation, as recent as the time that they played us in the Champions League in fact - as we got a bit upset because of all the media speculation."