The Borussia Dortmund chief has repeated his concerns that the Munich club's increased financial clout will tighten their grip on the German game
Allianz, who already own the naming rights to the reigning Bundesliga champions' stadium, acquired an 8.33 per cent stake in the club for a sum of €110 million (£90m) after the Bavarians' executive committee approved it with a unanimous decision.
However, Watzke is worried that the financial boost will see Bayern increase their stranglehold on the German game - essentially killing off any competition in a league which looks to already be slipping towards one-team dominance.
"This development was predictable," the BVB chief, who has lamented die Roten's financial prowess in the past, told Bild.
"They've been negotiating with Allianz for a long time and I can only congratulate them on the deal, but the gulf to the rest of the Bundesliga is obviously going to grow further because of it."
The agreement leaves Allianz with the same percentage share as Adidas and Audi, with Bayern stating that the money would be used to pay down the "remaining obligations on the Allianz Arena" and the "planned reconstruction of the youth and junior facility in Munich".