The Magpies wanted to sign the Dutchman in the winter transfer window and they recently claimed that the defender was keen to move to St. James’ Park.
Lille decided against letting him go in January, but he is expected to leave the French club in the summer and Newcastle are more than willing to try and sign him again.
But AC Milan have taken a decisive edge in the race to sign him and have been in talks with his camp for some time to convince him to move to Italy.
According to Italian daily Gazzetta dello Sport, a contractual agreement is in place between Botman and the Serie A giants for a potential summer move.
Botman has given his approval to a five-year contract worth €3.5m per season with the Serie A giants.
The Dutchman is happy to move to the San Siro and it remains to be seen if Newcastle will look to change his mind before the summer transfer window opens.
With personal terms thrashed out, AC Milan will now have to work out an agreement over a fee with Lille to sign Botman at the end of the season.
The Rossoneri are confident that the Dutchman will be an AC Milan player in the next transfer window.
