Magic Millions plans remain in place for the Mick Price-trained Nordic Empire who is part-owned by the troubled BC3 Thoroughbreds.

The colt raced in BC3's colours when he won on debut at Caulfield recently and returned to Price's stable on Tuesday, the day BC3 was placed into voluntary administration.

Nordic Empire is on the second line of betting for the $2 million Magic Millions Classic (1200m) for two-year-olds at the Gold Coast on January 11.

"BC3 only own 15 per cent so the administrators are happy for us to train at the moment and I would think eventually, as an asset of a company that's under administration, that 15 per cent will come on the market at some point and it will be offered to the original owning group first as proper protocol," Price said.

"But until we get word that we can do that, BC3 own their share."

Price said the colt was likely to head to Sydney for his lead-up to the summer's richest race.

"He came back in yesterday. We always planned to give him eight days off because he's not a robust two-year-old," Price said.

"He is a Magic Millions horse and we are going to try to get him in (the Classic).

"But he'll run at Canterbury in an $85,000 race over 1200 metres two weeks prior."

Nordic Empire won by 1-3/4-lengths over 1000m at Caulfield on November 30.