The 61-year-old criticised the deal, which he says could set the French side back more than it cost Bayern to build their stadium.
The German told magazine 'Sport Bild' on Wednesday that: 'During the Neymar transfer I asked myself the question what would be more important: Neymar or the Allianz Arena,'
'I have to say clearly that I prefer having the Allianz Arena which is also more important. We as Bayern Munich must have a different philosophy,' Rummenigge said. 'Overall the Neymar transfer could cost even more than the arena.'
The Bavarian side took out a 25-year loan of €346m in 2005 to build the Allianz Arena, though that was paid off 16 years early in 2014.
Rummenigge's comments about Bayern's philosophy ring true, their transfer record stands at £37.5m and was set in June this year when Carlo Ancelotti's side swooped to sign France international Corentin Tolisso. That shows a stark contract to the near £200m fee spent by PSG to sign Neymar, with the Parisians now said to be pursuing a deal for Monaco's Kylian Mbappe.
The former Bayern striker insists that Bayern will not do their business in such a manner.
'We do not want to do this and we cannot do this (spending like PSG). And that is fine. That is also seen as the right way by the public and our fans,' he explained.
'FIFA, UEFA, the ECA, leagues and the players union FIFpro should discuss this.
'I think we should all sit at the table, that would be my proposal. We could find more rational rules for football as a whole. Otherwise the public will not understand it anymore, fans will lose their connection.'