Preheat oven to 325 degrees F. Spray a bundt pan with non stick spray. In a large bowl add the butter and sugar, beat together with a stand or hand mixer until smooth. Add eggs two at a time mixing between each add in.
Add both extracts at end and mix. Slowly add the flour and salt and mix until you get a smooth batter.
At end use a spatula to gently fold in the champagne. Pour into bundt pan and smooth out so it is the same thickness all the way around.
Bake on middle rack for 1 hour 10 minutes or until toothpick in middle comes out mostly clean with moist crumbs attached.
Sit on cooling rack for 15 minutes before putting a plate on top and gently flipping over to remove from pan. When cool sprinkle on powdered sugar to top, slice and enjoy.