Third MCU Spider-Man will only happen if FFH makes at least a billion dollars.

[neatoman]

https://www.slashfilm.com/spider-man-contract/

So you guys remember remember the leak of the 2011 Spider-Man license deal (the one that stated Spidey can't be depicted as a pedophile, as if that was ever even considered). Turns out we now have some details regarding the 2015 deal.

Short version, Far From Home needs to make at least one billion dollars to ensure MCU Spidey gets to continue. It's not clear if that just means just solo movies or if the character rights would be entirely revoked, seems to me like the latter would be the case. Regardless, Sony still has the rights to make Spider-Man movies no matter what.