LARAMIE, Wyo. (AP) — The University of Wyoming might tap reserve funds after rejecting a $2 million pledge from a Casper businessman who was later convicted of sexual assault.

The university could take $1.2 million from a construction reserve count to offset the loss.

Tony Crecy had pledged the money toward the High Altitude Performance Center. After he was convicted in November, the trustees decided to return $800,000 he had already contributed and cancel the remaining pledge.

University spokesman Chad Baldwin says the school's athletic department and the UW Foundation will begin fundraising to replace the $2 million gift.

Cercy was convicted of third-degree sexual assault. In an earlier trial, he was acquitted of first- and second-degree sexual assault, but jurors couldn't reach a verdict on the third-degree charge.