The Watford forward is said to be in talks with the club himself.
The recently promoted side now have a new manager but are as keen as ever to hold on to their star striker.
So much so that Deeney's new deal was confirmed on Friday afternoon - with Ighalo responding on Twitter with a tongue-in-cheek comment:
Massive congratulation to @T_Deeney for signing new 5 years contract,I hope the owner still have money in the bank for the rest of us— JUDE (@ighalojude) July 3, 2015
What is interesting is the fact that Ighalo is himself in talks over a new deal. Swansea City have been linked with the prolific forward by WalesOnline this summer, while the 26-year-old is suggested to want a pay-rise.
Earlier this summer, the Hornets man told Goal.com: "I have two years contract with Watford. But in football you can never say never. Things happen just in a minute.
"If they come to a conclusion fine, if not then we will see what happens. I know some teams are interested in me but we will see what happens at the end of the day."
Watford fans will no doubt hope Ighalo can be given a new contract with reasonable terms and that both he and Deeney can keep firing at Vicarage Road while in the Premier League.
Sky Sports have also reported that the club have received a £10 million bid for the striker from a Chinese club.