Premier League - Barton slams Arsenal chief
Barton, who joined QPR from Newcastle in August, bridled at Hill-Wood's suggestion that it was never a "serious proposition" to bring him to the Emirates.
The 28-year-old had previously claimed he could have joined Arsenal if he had not been involved in a minor melee against them on the opening weekend of the season.
"Peter Hill-Wood said they never had any serious interest in me," Barton said in the Sunday Mirror.
"I just don't understand. The dialogue between him and his coaching staff has broken down so severely that he doesn't know what's going on at his football club.
"I don't know (why Hill-Wood said that). Fair enough if I was claiming to sign for Real Madrid or Barcelona or Manchester City or Manchester United, but I don't think it's that big of a shout to say Arsenal were after me because it's definitely a club in - what shall I say? - transition.
"Financially, they have put themselves in a great position but I don't know what's happening there. I don't understand. You look at Arsenal and you think, 'Well, they obviously have an abundance of money'. Their stadium is almost paid for. I would say, financially, they are the most well-run club in the league, barring Manchester City.
"I watched them the other day," he said. "It's a very different side from that great team they had with Petit and Vieira. If I was an Arsenal fan... well."