BOSTON (CBS) – Monday’s 4 pm deadline came and went, and there was no contract extension between Wes Welker and the New England Patriots.

The wide receiver will now play next season under the $9.5 million franchise tender he signed back on May 15. The two sides cannot work out a new deal until after the 2012 season.

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The Patriots and Welker had off-and-on talks regarding an extension this summer, and reportedly had spoken on Monday, but not enough headway was made to reach an agreement.

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Welker, 31, led the NFL with 122 catches in 2011 and was second with a career-high 1,569 receiving yards. The seven-year veteran also hauled in a career high nine touchdowns last season.

Since 2007, when Welker joined New England, he leads the NFL with 554 receptions.