They've already signed up 30 leagues, 700 teams, 100 stadiums and 20,000 players so they can still have the entire game licensed but just not with the FIFA branding which is proving to be rather non-viable after this. FIFA wanted $1bn every 4 years which would've given all the teams automatically and World Cup content. Although it's hard to say how much licensing everything individually costs along with the extra paperwork essentially, EA can also acquire new partners and sponsorship's which would've been restricted when under the FIFA branding. More importantly, they can probably now add even more shady monetisation in the game without risking the wrath of the governing body.
It wouldn't surprise me if the game is basically the same aside from a name change.