What it means that Wes Welker and Patriots didn't agree to a deal

The 4 p.m. deadline passed and Wes Welker and the Patriots have yet to agree on a long term extension. Really this should come as no surprise. You've been hearing it all week.

So, what does this mean for Welker's future with the Patriots? Will he even have one?

The two sides can still come to an agreement after the season ends this Winter. There's no reason for doom and gloom yet, hope still remains. Remember Vince Wilfork was franchised and then received a long term contract. Logan Mankins situation two years was almost identical to Welker's, in that he was franchised before the season and the two sides agreed to an extension after the season.

Still, it's very unlikely that Welker will be franchised by the Patriots next year. As PatriotsLife writer Jeff Lenihan points out that would be a 144% raise for the slot receiver. Will the Patriots give in and give him a market extension? That seems like a very un-Patriot like move, they will have to do some budging from their current stance.

The problem with Welker and the Patriots is, of course, money. Welker wants to be paid like the top receiver his numbers and production indicate. However, the Patriots are hoping that Welker would take a discount to stay with Tom Brady and the New England system. They also believe that while Wes is a receiver, he's a slot receiver. As Adam Schefter indicated in this report, the Patriots don't want to pay a slot receiver Larry Fitzgerald or Calvin Johnson type money.

So, hope is not gone for the Pats and Welker to reach a deal, but this certainly isn't a great sign. This could be Welker's last season in a Patriot uniform.