The chief executive does not fear that the attacking midfielder will leave BVB for an inferior Premier League side, while he is quietly confident about his team's chances in Europe
The Germany international is continually being linked with a move abroad, but the CEO of the Bundesliga holders is adamant the midfielder would have more chance of winning silverware at his current club than at one of the Premier League sides.
"Mario has said that he has no intention of leaving the club in the foreseeable future and his representatives have said the same. And we will not let go of him," Watzke told Sport Bild.
"How many teams are there really that would be a step up for him? Liverpool or Arsenal? I'm sorry, but when will they win a title again? Not anytime soon..."
Watzke then went onto discuss BVB's chances of Champions League success and was under no illusions as to the strength of the competition that they will face in the knockout stages.
"There are at least five or six teams that have a better chance of winning the competition. However, the gap with the top five in Europe is not too big," the supremo concluded.
The draw for the Champions League round of 16 takes place in Nyon on December 20.