Bayern Munich chief executive Karl-Heinz Rummenigge has labelled David Alaba as one of the best full-backs in Europe, after the Austrian defender signed a contract extension with the club.

Alaba penned a three-year extension earlier this afternoon, which will keep him at the German champions until June 2018.

"David came to Bayern at 16 and has developed excellently since then," said Rummenigge.

"He's one of the best and most successful full-backs in Europe at the moment and we're very pleased to be able to count on his performances in the future."

The Austrian full-back joined Bayern in 2008 and has been an important player for coach Pep Guardiola this season.