Sony issued a statement responding to reports that negotiations between themselves, Marvel Studios, Kevin Feige, and Disney stalled out leaving Tom Holland’s Spider-Man outside of the MCU.

In a statement issued to The Hollywood Reporter, a Sony spokesperson responded to the reports that Spider-Man was out of the MCU. (Related: Report: Tom Holland’s Spider-Man Out Of MCU – Marvel and Sony Fail to Reach Deal)

“Much of today’s news about Spider-Man has mischaracterized recent discussions about Kevin Feige’s involvement in the franchise. We are disappointed, but respect Disney’s decision not to have him continue as a lead producer of our next live-action Spider-Man film.”

The spokesperson continued:

“We hope this might change in the future, but understand that the many new responsibilities that Disney has given him — including all their newly added Marvel properties — do not allow time for him to work on IP they do not own Kevin is terrific and we are grateful for his help and guidance and appreciate the path he has helped put us on, which we will continue.”

The initial report regarding Sony and Disney’s split indicated Sony’s Tom Rothman and Disney’s Alan Horn and Marvel Studios’ Kevin Feige could not come to a financial understanding. Deadline reported Disney wanted a 50/50 co-financing deal that would include not only Spider-Man, but the Spider-Man universe films such as Venom and Morbius. THR reports Disney wanted a 30% percent stake. Sony reportedly rejected this offer. (Related: Petition Launched to Keep Tom Holland’s Spider-Man in the Marvel Cinematic Universe)

Instead, Sony offered to continue the current deal which gives Disney 5% of first dollar gross. Disney and Marvel Studios reportedly rejected this deal.

An insider also told THR that Sony believes they may no longer need Disney when it comes to Spider-Man following the success of the animated Spider-Man: Into the Spider-Verse film and Venom. Their source tells them, “Tom [Rothman] is thinking ‘Okay, we’ve learned everything we need to from Kevin’s playbook. We did Venom on our own and we did Spider-Verse.”

In fact, Venom made nearly as much as Spider-Man: Homecoming without a tie-in to the MCU. Venom made $856 million worldwide while Homecoming made more with $880 million. Sony definitely didn’t need the MCU and Disney when it launched Spider-Man back in 2002. The original Spider-Man film starring Tobey Maguire earned $821.7 million worldwide. Even the first Amazing Spider-Man film earned $757.9 million.

Sony has been doing pretty well in the Spider-Man department without Disney and Marvel Studios. And in this recent incarnation of Spider-Man they haven’t even tapped into some of the more famous Spider-Man characters like Kraven the Hunter, Green Goblin, and Doctor Octopus. Mary Jane Watson has been completely AWOL in this MCU incarnation of Spider-Man.

What do you make of Sony’s statement? Do you think they really need to have Spider-Man in the MCU?