Germany's Melbourne Cup winner Protectionist is beginning his new life as an Australian a day after making history at Flemington.

The five-year-old will head to the Newcastle stable of Kris Lees where he will be trained for Australian Bloodstock.

The syndication company raced him in the Cup in partnership with his previous owners under trainer Andreas Wohler.

AB principals Jamie Lovett and Luke Murrell will now set about selling the shares opened up by the finalisation of the foreign ownership.

"At this stage we will sit down with the ownership group, probably in the next seven days, and just work out a plan for him," Lovett said.

"There's nothing in concrete. These horses haven't always responded to our training so we've got to make sure we get it right."

Lovett said the plan was to give the horse a break and prepare him for races over the Sydney autumn carnival.