Being based in Monaco, the team at Relevance is no stranger to VIP motorsport events such as the F1 Monaco Grand Prix. However, there is currently a trend happening throughout the motorsport industry, with event organisers working to appeal to the world’s richest audiences with exclusive VIP experiences. In this article, we take a look at some of the top luxury autosport events and what their respective series and tracks are doing to appeal to the world’s wealthiest individuals.
F1 Miami Grand Prix
The trend towards targeting luxury audiences can be seen most in Formula 1. F1 has experienced a resurgence in recent years thanks to its acquisition by Liberty Media. While the Monaco Grand Prix is expected to remain the most iconic luxury motorsport event, with the glamorous yachts and Casino de Monte Carlo just metres from the racing surface, Formula 1 has introduced new events with a focus on luxury audiences, such as the Miami Grand Prix and the upcoming inaugural Las Vegas Grand Prix.
Miami is one of the worldwide centres of yachting and has become a luxury destination in its own right. Due to this, Formula 1 has highly publicised the luxury experiences available at the race. From fine dining, premium views, and even an artificial “marina” where fans can watch the race from a yacht, the event has quickly grown to rival the Monaco Grand Prix in terms of what is offered.
In addition to the options for individual tracks, Formula 1 also offers the Paddock Club tier at every event. For Miami, this costs over US$10,000 but does include several perks. From a ride around the track in a flatbed truck to pitlane tours, driver appearances, gourmet dining, and refreshments. F1 has aimed to create a consistently great VIP motorsport experience between races, and the Paddock Club has become known by fans thanks to its prime locations and presence throughout the entire schedule.
NASCAR Daytona 500
The most popular motorsport in the United States is NASCAR, with the season-opening Daytona 500 considered the highlight. The Daytona 500 takes place in February at the Daytona International Speedway in Daytona Beach, Florida. During the event at the tri-oval superspeedway, 40 heavy stock cars race bumper to bumper at 200 mph (321.87 kph) for 500 miles (804.67 km).
NASCAR is not typically known for its luxury autosport experiences, but this has started to change in recent years as they once again branch out to draw in new audiences. In contrast with Formula 1, NASCAR has a different VIP motorsport experience from track to track. However, this also has some benefits as each experience is unique, adding to its exclusivity.
One of the top luxury motorsport experiences offered at the Daytona 500 is the High Banks Platinum VIP package, priced at $6,500. The package includes similar benefits when compared to the F1 Paddock Club, such as access to various VIP areas, but also includes other exclusive services. These range from a personal concierge with golf cart service, on-site parking, garage access before and after the race, hot laps around the 2.5-mile track, a private viewing area for the pre-race concert, and even a seat in Victory Lane to celebrate with the winner as the Champagne flows.
WEC 24 Hours of Le Mans
Stepping away from events in the United States for a moment, the most famous endurance race in the world, the 24 Hours of Le Mans, also features a growing VIP atmosphere. The race takes place at the Circuit de la Sarthe in Le Mans, France, and is a part of the FIA World Endurance Championship. Teams and spectators travel from all over the world to see the endurance of both man and machine put to the test on the nearly 8.7 mile (14 km) course. The race contains a field of around 60 cars divided into various classes, and all teams must rotate three drivers through the car during the race, with no one driver behind the wheel for more than a total of 14 hours.
One does not have to look far to see luxury at Le Mans. For a century, Ferraris, Porsches, Bentleys, McLarens, and many other luxury brand cars have been doing laps around the world-famous circuit.
Le Mans offers several VIP motorsport packages, with the ultimate package being the 24 Gold experience, priced at €6,800 for the weekend. The package includes VIP transfer, parking, access to two lounges, an open bar and catering, a photo report by a professional photographer, and several VIP activities. These activities include experiences such as access to the paddock, a grid walk, a hot lap on the Circuit de la Sarthe, a visit to one of the team boxes, a helicopter flight above the circuit, and more surprises. Le Mans is a much longer event than most motorsports, and the VIP package provides a range of activities to keep guests engaged for days.
IndyCar Indianapolis 500
Known as the “Greatest Spectacle in Racing” the Indianapolis 500 is one of the oldest events in motorsports and takes place at the Indianapolis Motor Speedway in Indianapolis, Indiana. The course is a 2.5 mile (4.02 km) long rectangular oval where the cars reach speeds of upwards of 230 miles per hour (370.15 kph) on race day. The Indy 500 is the largest single-day spectator sporting event in the world and, as a result, has its fair share of luxury experiences.
The Hulman Terrace Club Presented by TAG Heuer is one such luxury experience. Tickets cost $1,750 each and are valid for 15 event days, including in May during and in the buildup to the Indianapolis 500, as well as for the Brickyard Weekend later in the year. This is a unique approach and an appealing option for some, as it keeps spectators returning to the track.
In terms of the more exclusive benefits, this luxury autosport experience includes credentials to visit the pits and garage area (though it is a separate upgrade to do so on Indy 500 race day), as well as parking, reserved seating outdoors, and club access with a view of the track just past the fourth turn. While featuring fewer unique experiences than some of the other motorsport events, the season pass feature is unique and a great opportunity to enhance the event experience.
NASCAR Coca-Cola 600
The Coca-Cola 600 is NASCAR’s longest race, running for 600 miles (965.61 km) on the 1.5 mile (2.41 km) tri-oval located in Concord, North Carolina. This happens on the same day as the Indy 500, Memorial Day in the United States. While not as well known worldwide for its luxury experiences, Charlotte Motor Speedway was and still is a pioneer in VIP motorsport events, thanks to the late American motorsports executive Bruton Smith.
Charlotte Motor Speedway offers membership in The Speedway Club, an exclusive club where one can become a member for several thousand dollars. Doing so offers superb benefits such as pit passes for NASCAR Cup Series races, golf cart shuttles, five luxury seating options in different areas of the track, VIP lounge access, invitations to prestigious motorsports-related events, access to the Champagne Toast with the race winner, access to the road course, and much more. Speedway Club membership comes with a long list of perks and is a great option for a VIP motorsport experience.
The Speedway Club has been marketed for decades, gaining a reputation as a consistently great option for NASCAR fans looking for the best experience, albeit at one track.
F1 Monaco Grand Prix
Last but certainly not least, there is the Monaco Grand Prix. The Monaco GP takes place on the same day as the Indianapolis 500 and the Coca-Cola 600, opening the greatest day in racing with Formula 1 cars racing through the streets of Monaco on a 2.074-mile (3.337 km) street course. It is by far the most prestigious event on the Formula 1 calendar, and thanks to Monaco’s reputation as a luxury destination, it has plenty of exclusive VIP experiences.
The Formula 1 Paddock Club is an option for the Monaco GP, like other races, but there are also some other incredible options, such as the Belvedere Suite. Organised by the Automobile Club de Monaco, the Belvedere Suite is situated above one of the grandstands with a great view of multiple parts of the track. It is priced at €4,200 per person for Saturday and Sunday, with extras available such as yacht cocktail parties and drinks with Formula 1 drivers for an extra cost.
Additionally, those at the Belvedere Suite also receive an invitation to the Grand Prix Gala Ball for an additional €2,800, which Monaco’s H.S.H. Prince Albert II and Formula 1 drivers attend. It also includes other VIP perks such as access to the pitlane, food served all day, and an open bar. There are also other options for much more, such as charter yachts in trackside berths. A luxury autosport experience at the Monaco Grand Prix can be extremely customisable, further enhancing its appeal to UHNWIs, and is a dream come true for any Formula 1 fan. If you’re interested in targeting luxury audiences during any of the above high-profile motorsport events, Relevance can help. As a luxury full-service digital marketing agency, we have demonstrable experience targeting ultra-wealthy audiences for global luxury brands. Contact us to learn more about how we can help your luxury brand.