The Gunners broke their transfer record last August when they secured the signing of Mesut Ozil from Real Madrid for £42.5m, and Seaman feels that move was a step towards the right direction for the club.
Seaman told The Mirror: "Once you start attracting top players, you have a chance of winning things. The signing of Ozil was great, but it needs to be carried on.
"The main stumbling block before was the wage structure. That's why players weren't coming. They were getting double their money elsewhere and it's a no-brainer. Now, they've changed it with Ozil and that will attract the top players back.
"Arsene is still bringing players through and, hopefully, now he is not going to have to sell them. That is the biggest thing. You can't sell the players that we have sold and still win trophies."
Arsenal have failed to win a major trophy since 2005.