Ibrahima's contract was set to expire in the summer, but the new deal will keep him at the club until the summer of 2013.

"Atletico Madrid's Senegalese striker Ibrahima Balde has extended his contract with los Rojiblancos for three more seasons," a statement on the club's official website revealed.

"Given that his contract expired on June 30, Ibrahima will be tied to the Vicente Calderon side until June 30, 2013."