Aaron Cook has announced he will not be taking his fight for selection to the Team GB Olympic taekwondo squad to the High Court.
The world number one in the -80kg category has been overlooked in favour of Lutalo Muhammed, the world number 59.
Cook fell out with his governing body, British Taekwondo, after pulling out of its training programme.
The British Olympic Association turned down Cook's latest appeal last week, ruling that there was not enough evidence to re-open the selection process.
At the time, Cook suggested he would continue his battle through the courts. However, in a statement, he has confirmed he has now backtracked, saying it would be too expensive:
"After careful consideration over the last few weeks, and despite my representatives advising me that I still had a good chance of successfully overturning the BOA's ratification of Great Britain Taekwondo's decision not to select me for London 2012, I have decided not to take my case against the BOA to the High Court.
"I am really disappointed that the BOA did not agree to my case being heard at the Court of Arbitration for Sport. It is the specialist forum for sports-related matters.
"The High Court is significantly more expensive, time-consuming and does not have the experience or expertise in dealing with sports-related disputes.
"I also hope that UK Sport and the BOA act to resolve the long-term issues that have been revealed by my case.
"The Olympics, and especially a home Olympics, would have been the pinnacle of my career. I feel totally devastated."
The World Taekwondo Federation is conducting its own investigation into the selection process, however the findings won't be available before the Olympics.
