https://deadline.com/2019/08/kevin-f...er-1202672545/
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Disney asked that future Spider-Man films be a 50/50 co-financing arrangement between the studios, and there were discussions that this might extend to other films in the Spider-Man universe. Sony turned that offer down flat. Sources said that Sony, led by Tom Rothman and Tony Vinciquerra, came back with other configurations, but Disney didn’t want to do that. But Sony did not want to share its biggest franchise. Sure Disney would be putting up half the funding, but the risk is in how much you are going to make back in profit. Disney wasn’t at all interested in continuing the current terms where Marvel receives in the range of 5% of first dollar gross, sources said.
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If Sony is building their own 'Spider-verse', I can see why they wouldn't want to give half of that money to Disney.