Although he feels positive about his team's chances to advance, the 56-year-old is cautious about the risk the Group C runners-up pose.
"As we keep a clear head and do our work right, then there's a high probability for all of us to maneuver onto the quarter-finals. But please not under-rate [Basel]," Rummenigge told reporters following the draw.
Winger Arjen Robben echoed the CEO's sentiments, stating the Swiss' bravery within the group stage.
"Manchester U . s . understand how harmful Basel are," he stated.
The Swiss side notoriously knocked the British titans from the competition earlier this year following their 2-1 home victory on matchday six. Bayern, however, finished first in Group A in front of runners-up Napoli, in addition to Manchester City and Villarreal.
Despite the fact that they face potentially tricky opposition, the Bavarians go into the round of 16 with full confidence.
"Basel is really a workable task," stated coach Jupp Heynckes.
"As we play at 100 percent, we'll manage [to achieve the quarter-finals]," added winger Franck Ribery.
Basel will host Bayern within the first leg from the tie on the to-be-determined date in Feb.