When you're in a messy breakup, sometimes you have to close the door and stop all interaction with your partner unless a significant change has been made. In the case of Sony and Disney's Spider-Man deal deteriorating, it looks like the former has closed contact but is open to change. Just not currently since it appears that Sony has plans of their own when it comes to Marvel's popular character.
Sony Pictures Chairman and CEO Tony Vinciquerra told Variety that "for the moment the door is closed" for Spider-Man returning to the MCU. The fact that they said "for the moment" indicates that they wouldn't mind Spidey appearing in these movies again; they just want their old deal where they make most of the movie money, while Disney/Marvel Studios gets merchandise rights.
Furthermore, it seems like there are plans to integrate Spider-Man in Sony's own cinematic universe of Marvel characters, called Sony's Universe of Marvel Characters (SUMC?). This means that we'll see Tom Holland's Peter Parker interact with the likes of Venom, Morbius, Black Cat, Silver Sable, and others who have movies planned.
"Spider-Man was fine before the event movies, did better with the event movies, and now that we have our own universe, he will play off the other characters as well. I think we're pretty capable of doing what we have to do here."
Personally, I can see why Vinciquerra would want to integrate Spider-Man into Sony's own little universe, even if I'm not a fan of it. Venom managed to make a bunch of money in spite of its own quality, and let's not forget about the mess known as The Amazing Spider-Man 2 (even if this writer is a fan of that hot mess of a movie).
Spider-Man: Far From Home is coming to digital services on September 17 and will be hitting Blu-Ray and DVD on October 1.
Read:Spider-Man Actor Tom Holland Has Bright Review For IT Chapter 2
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Spider-Man: Far From Home