Adams believes Wenger's self-proclaimed 'socialist system' has hurt the club.
He told talkSPORT: "I believe that the structure and the finances are there. He should restructure his finances and put four or five players on top, top money instead of giving a lot of players £50,000-a-week. I used to do it for £50,000-a-year!
"They've got a £152million wage bill to play with so I think they could work it differently by making strong and difficult decisions."