TORONTO –– Red Sox general manager Theo Epstein announced Friday afternoon that the club and outfielder Jason Bay have “tabled” contract talks until the end of the season.

The sides were talking and when an agreement couldn’t be reached, both the Sox and Bay thought it best to wait so it wouldn’t be a distraction.

Bay, 30, is in the final year of his $18.25-million contract and will be a free agent at the end of the season.

“We didn’t bridge the gap,” said Bay. “That being said, that doesn’t mean it’s the end of the world, either. I didn’t want it to become a distraction, not so much for myself, but to the entire team.”

Epstein said the club made an offer last week and it’s now clear the latest round of talks won’t result in a deal.

“There’s disappointment because both sides want this to work,” said Epstein. “We were really hopeful with the aggressive offer that we made we could have reached a deal now, but we have complete respect for Jason as a player and a person. He’s worked his whole career, and has had a consistent career, to get to a point where he can set his family up for life. We’re not going to hold anything against him because he makes a decision to wait.”

Epstein believes the sides still have faith in the process and that a deal will get done eventually.

“We still want to retain him,” Epstein said. “We think he still wants to be here –– it’s just not going to happen now."

Bay asked Epstein and the Red Sox to publicly put an end to the talks so that he and his teammates can concentrate on playing. After telling a small group of local beat writers of the decision to end talks, Epstein asked for a favor: “Going forward, if you wouldn’t mind letting him hit home runs and not answer repetitive questions, we would appreciate it from this end.”

Since arriving in Boston last July via a three-team trade involving Manny Ramirez, Bay has been solid in every aspect of the game. Because of his contract status and performance, the Sox and Bay’s representatives began contract negotiations during spring training but couldn’t come to an agreement.

“I’m definitely more encouraged –– actually a lot more –– about the way thing went this time,” said Bay. “Hopefully we can get something done. ... They made great strides and I appreciate it.”

Bay entered Friday’s game at Rogers Centre with a .260 average, 20 homers and 72 RBI in 86 games for the Sox in 2009. There will certainly be other teams interested in his services if he does file for free agency after the season, but Bay would like to get something done with Boston.

“I’m in no position to say that I want to file for free agency and see what’s out there,” he said. “I would still love to get something done here. I’ve made that known. I like it here. ... I’m not really in the market to try to set a precedent. I’m just looking for something that’s fair.”

jmcdonal@projo.com