For one thing I knew Sega would eventually get rid of VC because they no longer needed VC seeing how they aren't in the hardware business anymore. Sega only bought VC so they would have sports games on the Dreamcast knowing EA wasn't going to bring their games to the Dreamcast.
IMO it was VC who left EA and not EA getting rid of VC. If you look at all the innovating VC has done between the launch of the Dreamcast with NFL2K and ESPN NFL 2K5 you'll notice VC has done more for Sports gaming than EA has. VC more likely got tired of the crap EA was trying to push on its customers and decided to stop working for EA. September 2000 NFL2K1 was the first online football game and Madden was still only on the PS1. A lot of the stuff you take for granted online today was started by VC/Sega and not EA. If it were up to EA you'd be playing online games with 2 tin cups and a string.
Take2 does have something up their sleeves because they knew what EA was up to. They're trying to at least give gamers a choice. The ESPN line of games plus Top Spin, Amped and the Links golf games (which IMO are the best Tennis, Snowboard and Golf games) is a very good line-up compared to what EA has to offer.