"It wasn't our fault, but during the Christmas holidays it's not easy to do a transaction, " Varney told BBC Sport.

BBC: Peter Varney confident of Charlton takeover deal

An Iowa Democratic Party official said that there are no plans to hold the state's caucuses around the Christmas holidays despite the decisions by other states to move up their nominating contests into January.

CNN: South Carolina GOP moves up primary, adds to 2008 scramble

It remains third on the list of holidays when consumers spend the most (behind Christmas and Valentine's Day).

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