Formula 1 fans bring big money to Austin

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by JADE MINGUS / KVUE NEWS and photojournalist Matt Olsen

khou.com

Posted on November 15, 2012 at 9:10 AM

AUSTIN, Texas -- Exclusive high end parties are mixing with free events for race fans during Formula 1 weekend in Austin.

Local bars and restaurants in the Warehouse District are stocking up on high-end champagne and liquor to cater to more expensive taste.

"We've stocked up on an enormous amount of champagne because it is a champagne event," said Imperia owner, Michael Girard.

Across the street from Imperia, preparations are underway for the free Formula 1 Fan Fest.

"My closest guess is something similar to the Superbowl, as far as volume of crowd that's coming," Girard said.

However, some private parties carry a much higher price tag.

My Yacht F1 Club is transforming the Ballet Austin building to host three nights of high-end, luxurious parties.

"We're intending to bring Monaco to Austin. Obviously, it's never happened before," said Nicholas Frankl.

Frankl is the CEO of My Yacht Group, and has hosted private Formula 1 parties in Monaco for the past eight years.

Frankl said the prince and princess of Monaco always come to his event and the event in Austin is no exception.

Also on the guest list--Christian Slater, Sammy Sosa, F1 drivers, and supermodels.

"There's a guarantee of exclusivity and a guarantee of  a certain type of individual that's going to be here," said Frankl.

Individual tickets cost $300 Friday and Saturday, and increase to $500 on Sunday. VIP tables range from $3,000 to $10,000.

The party includes 24 carat gold infused champagne and Lamborghinis that line the front entrance.

"You will have Lamborghinis to your left, ballerinas to your right and Patron cocktails in your hand. Gold champagne, models, celebrities, and drivers," said Frankl. 

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