Chicago-based American entrepreneur Gerald Forsythe has acquired full ownership of the Blue Harbor Resort & Spa by Lake Michigan in Sheboygan, Wisconsin.

Known for being one of the three men that owned the Champ Car World Series, Forsythe is an auto racing magnate who also owns a team called Forsythe Championship Racing.

Following a partnership with the Massachusetts-based Claremont Companies to buy the resort in 2011 for US$4.2m (€3m, £2.4m) from Great Wolf Resorts for renovation, Forsythe has bought the remaining ownership of the resort from Claremont. The terms of the transaction were not disclosed.

“We are deeply committed to delivering a quality experience to guests, and to further position Blue Harbor as one of the preeminent resorts in the Midwest and the number one destination resort on the Western shore of Lake Michigan,” Forsythe said.

The resort features 183 suites, 64 villas, more than 17,000sq ft (1,579sq m) of meeting and event space, a 54,000sq ft (5,017sq m) indoor waterpark and entertainment area, a full-service spa, three restaurants and recreation amenities including watersports and access to The Bull golf course – six miles away.

The resort’s Reflections Spa currently includes five treatment rooms and a mani-pedi room, but Blue Harbor has announced the investment of an additional US$1.7m (€1.2m, £1m) to the property in 2014. Areas that will receive an infusion of capital are meeting and event areas, a new mini-golf facility plus an expanded fitness centre, spa and salon.

Funds will also be injected into the resort’s 43,000sq ft (3,995sq m) indoor Breaker Bay Waterpark, with the addition of a surfing simulator in an attempt to make the Blue Harbor Resort a first choice for families.