Seaman, 49, disagrees with calls for the long-serving Frenchman to be replaced.
He told The Sun: "Spending the cash and maybe having a look at the wage structure is needed because you've got to be attracting the best players.
"I'm sure the fans would regret it because what would change? Arsene's a great coach, a great manager.
"Has he got the money to spend? We don't know.
"If a new manager came in and suddenly he's got money to spend, why wouldn't they give it to Arsene? There a lot of questions that need answering."