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Ryuu96 said:

Sony will definitely still be offered a contract I would think, if only for Microsoft to continue to look good to regulators and because they've already made that public commitment now.

But I imagine it'll be worse than the one CMA could have enforced, it'll likely be a bog standard contract, it surely won't have any of that stuff about someone watching over Microsoft to ensure parity in tech/content and Sony will be paying whatever Microsoft deems appropriate for PS+ inclusion.

Not that they even need a contract, Minecraft doesn't have one, but oh well.

MS is never going to take their offer off the table for Sony and even if Sony doesn't sign, MS will still support PS as usual.  COD needs to continue to sell and the PS base is its biggest so it needs to keep them very happy.  I actually do not believe MS cares if Sony signs or not.

Sony had a chance to negotiate more than just COD but as I stated a long time ago, it was not the best stragety to make everything about COD and as long as they did so, it would cost them.