Botman has agreed a five-year deal at St James’s Park will officially become a Newcastle United player once the new month starts.
The 22-year-old defender leaves Lille, who accepted a bid from Newcastle in the region of €40million (£34.4million) last week.
The move comes just two years after Botman joined Lille from Ajax for €9million (£7.7milion).
But the defender isn’t concerned by his transfer fee – which just so happens to be the largest any Premier League side outside of the ‘big six’ has ever paid for a defender.
"This is how the football world has developed and how the transfer market works at the moment,” Botman told De Telegraaf (translated from Dutch).
“I can't help that. And hopefully I'm still that sober boy from Badhoevedorp. That €40million does indicate how much Newcastle United wanted me.
"That gives me confidence and now it's up to me to repay that."
Botman was also heavily linked with a move to AC Milan, which reports from Italy claimed was his first choice.
But the defender has played down those claims with Milan unable to match Newcastle’s offer.
"In the end, the beautiful project of Newcastle United in combination with playing in the Premier League was decisive,” he added.
“The latter has actually been a dream my whole life. AC Milan also gave me a good feeling, but Newcastle United felt just a little better in the end."