He planned to run a third time in 1980, but was persuaded to stand aside in favour of Philippe Gigantès. By way of a compromise, Varelis became Deane Gigantes's campaign chairman.
In 1980, he planned to compete again, but was persuaded by Philippe Gigantès to withdraw from the race. To reach a compromise, Varelis took on the role of campaign chairman for Deane Gigantès.