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Wes Welker Contract Situation: WR, New England Patriots Reportedly Have '50-50' Odds Of Agreeing By Deadline

Wes Welker and the New England Patriots have "50-50" odds of reaching a long-term contract agreement before the July 16 deadline for franchise players, according to Jason La Canfora of CBS Sports.

La Canfora also reports that the Patriots and their star wide receiver "still have a pretty significant gap in terms of guaranteed money to bridge."

The Boston Globe reported earlier this week that Welker and the Patriots are expected to "be working hard this week toward getting a deal done."

If the two sides don't come to an agreement before July 16, Welker will play the season under his franchise tender of $9.5 million. He is reportedly looking for a contract offer of three years, but the Patriots are hesitant to commit to the 31-year old for that long.

For more on the Patriots please be sure to check out our blog, Pats Pulpit and SB Nation Boston for all the latest news and updates.