American billionaire Stan Kroenke is set to take full control of Arsenal after minority shareholder Alisher Usmanov accepted a buyout offer of his 30 percent stake.
In 2015, Corbyn named Ian Wright, Dennis Bergkamp and Jens Lehmann as his all-time favourite Arsenal players. Usmanov publicly questioned the lack of investment in the squad as he was shut out of any decision-making by Kroenke, who also owns Major League Soccer's Colorado Rapids.
The Arsenal Supporters Trust (AST) lamented a "dreadful day" for the Gunners - and now Labour leader Corbyn has echoed the sentiment.
The Arsenal Supporters" Trust (AST) has already heavily criticised the deal saying it as "a awful day for Arsenal Football Club'.
The America tycoon's move to obtain complete control of the club signals the end of Arsenal's long tradition of financial accountability and transparency by having supporter shareholders.
He said in a statement: 'It's a real shame that this sale will bring to an end the longstanding official role of Arsenal supporters in the running of the club.More news: Dennis Shields dead: Bethenny Frankel's beau's wife breaks silence on tragic death
More news: Gaza rocket hits near southern Israeli city in show of defiance
More news: France floods: 1600 evacuated, German missing at campsite
Dangote has never hidden his desire to own the Premier League club which he supports.
That move, which Kroenke says he'll fund mostly with loans, would value the club at 1.8 billion pounds ($2.3 billion) and would lead to the compulsory purchase of the remaining shares, some of which are owned by Arsenal fans.
'Whilst the fans may only have a small shareholding in the club, without the fans there would be no club at all so their voices must be heard.
Meanwhile, the Arsenal Supporters' Trust has voiced several concerns over the potential takeover in a strongly-worded statement of their own.
"KSE believes that taking Arsenal under private ownership will bring the flexibility necessary to drive greater success of the Club and intends to continue to develop the Club as a leading football club on both the domestic and global stage".
"The most terrible part of this announcement is the news that Kroenke plans to forcibly purchase the shares held by Arsenal fans", said AST. They also stated that by becoming the 100% owner, Kroenke could, if so desired, take "detrimental actions" such as paying "management fees and dividends without any check or balance". For the first time in a long time, the Gunners have shown clear intent to rise up the league and improve upon last season's disappointing sixth-place finish. "The AST is wholly against this takeover which marks a very sad day for Arsenal football club".