The Dutch club have reacted angrily to suggestions that they are demanding a £10 million fee for the 28-year-old and insist that the deal could still go ahead.
"We are still in negotiations with Arsenal," said technical director Rob Baan.
"This matter is not finished yet."
Feyenoord president Jorien van den Herik also poured cold water on reports that his club were demanding an extortionate fee for the shot-stopper.
"All the figures bandied around about a fee of £10 million or £8.5 million are pure speculation," he asserted.
"We certainly never gave that kind of indication. It would be nice of them to inform us what is going on."
Arsene Wenger is currently keen on finding a replacement for the 37-year-old Seaman and recent indications suggest that he could be more inclined to turn his back on a deal with the Dutch oufit and instead focus his attentions on Ipswich Town keeper Richard Wright.
It was revealed last week that Wright is to hold talks with The Gunners over a proposed £5 million switch to Highbury.
