The Australian Olympic Committee (AOC) has criticised the ABC's "monumentally short-sighted" decision to not buy the live radio broadcast rights for the 2020 Olympic Games in Tokyo.

Key points: The ABC made the decision not to buy the rights to the Olympics due to budgetary pressures

The ABC made the decision not to buy the rights to the Olympics due to budgetary pressures The AOC described the decision as "a great letdown to Australians", particularly those in regional areas

The AOC described the decision as "a great letdown to Australians", particularly those in regional areas ABC radio caller Quentin Hull described the decision as "a national shame"

That means that, for the first time since the 1952 Helsinki Olympics, the ABC will not have a live radio broadcast of the Games, with the national broadcaster citing "budget pressures and the changing broadcast environment" as reasons not to bid for the non-commercial radio rights.

"This is an incredibly tough decision, especially given our 67-year run as the official non-commercial Olympic Games radio broadcaster," the ABC said in a statement.

"Due to competing budget priorities coupled with the fact that Australians can access Olympic Games coverage in many other ways, we have chosen not to pursue rights in 2020."

The AOC called on the ABC to reverse the decision and said it was "prepared to put this case to the chair of the ABC directly".

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"The AOC believes the decision is monumentally short-sighted and a great let down to Australians who rely on their national broadcaster — from the smallest of communities to our suburbs," AOC chief executive Matt Carroll said.

"We live in times when we need to inspire even more Australians to participate in sport to defeat the growing scourges of obesity and mental illness."

The AOC said it was a particularly ill-advised move with Tokyo 2020 taking place in a time zone that is more conducive to listening and watching than Rio four years ago.

Carroll also suggested covering things like the Olympics on live radio was pivotal to the ABC's charter.

"The Olympics can inspire Australians to embrace something valuable and, as the ABC's charter indicates, to contribute to a sense of national identity. There's no bigger event in the world to fulfil this ambition," he said.

"There is no sporting movement in Australia that covers the multicultural and geographical diversity of our country as the Olympic movement. … These are things go to the heart of the ABC charter."

'ABC will lose part of its DNA'

The ABC's statement made clear ABC News and ABC Grandstand would still be providing daily updates throughout the Games.

ABC radio caller Alister Nicholson said he felt "absolutely flat" and "empty in the stomach" after hearing the news.

Australia's Sally Pearson poses with her women's 100m hurdles gold medal at the presentation ceremony held a day after she won the event at the London 2012 Olympic Games, August 8, 2012. ( Reuters: Eddie Keogh )

"That idea that I would be part of the sports department that didn't any longer cover the Olympic Games is really deflating," he told ABC Radio Melbourne.

"I can't say too much about it. Obviously this is a decision that has been made a lot higher up the chain than myself.

"I know that it is a difficult environment budgetary-wise for the ABC at the moment, and it's not an inexpensive thing to mount a broadcast of the Olympic Games."

Nicholson described the ABC team that was sent to the 2016 Rio Games as a "trimmed back … skeleton team" that he was lucky enough to be a part of.

"I'm not so much disappointed for myself, I'm disappointed for the athletes and for the public," he said.

Mack Horton was one of the stories in and out of the pool at the Rio Olympics. ( AP: Martin Meissner )

"You think about all the great stories there are to tell — and yes, we will continue to cover in some capacity — we won't have broadcast rights in the sense that we will be able to call those great moments."

Fellow broadcaster Quentin Hull tweeted: "The ABC will lose part of its DNA by not being at the Tokyo Olympics.

"The coverage has always shed a light on amazing stories of not only Australians, but human achievement the world over.

"It's a national shame."