Babalade died on Thursday, September 5 at the age of 48. He died while being rushed to the University College Hospital, Ibadan.
The 92 AFCON star was a squad member of the Eagles that won bronze at the 1992 Africa Cup of Nations in Senegal.
He started his professional career at Stationery Stores of Lagos in 1990, before several stints at 3SC, helping the Oluyole Warriors reach the final of the CAF Champions in League in 1996.
He played professionally abroad at Ivoirian side, African Sports, Anyang LG Cheetahs (Korea), SK Sturm Graz (Austria) and Indian club Mohun Bagan AC.
On October 17, 2008 Babalade was named as manager of the Shooting Stars FC.
He is survived by a wife and three kids, who are all based in the US.