The pug who gets into the ring today (3:30 p.m., WMAL-TV-7) to help George Foreman to a $250,000 payday will only be engaging in his fifth fight since 1973. Meanwhile, he has been spending most of his time earning $250 a week on maintenance work for the city of Oradell, N.J.

This is Pedro Agosto, to whom his $15,000 purse must look gigantic. Agosto, who started his pro career with 16 straight wins but is only 10-6-1 since then, including 1-2-1 in his last four, got the break because Baltimore's Larry Middleton failed his physical for a prospective Foreman fight in Las Vegas. Agosto weighed in yesterday at 203 pounds to Foreman's 226.

The scene will be Pensacola Municipal Auditorium, mighty convenient for the promoter, Don King, coming as it does six days after he staged openers of his U.S. tournament on the U.S.S. Lexington berthed at Pensacola.

No reason Foreman, 44-1 with 41 knockouts, shouldn't make it 45-1 and 42 going into his projected March 17 bout against Jimmy Young in the Capital Centre on his way back toward the heavyweight title . . .

The Miami Beach Boxing Commission has given veteran promoter Chris Dundee back his license but fined him $500 for irregularities and "mismatches" capped by one involving somebody called Mongol Ortiz, never heard of before or since he was flattened in the third round of a Dundee feature. But the commission also has stripped Dundee of exclusive rights and issued an open invitation to any all fight promoters to come in and create a competitive situation. Right off, Don King Productions grabbed the first permit.

O.K. by Dundee; "I work with Don King, you know." King and Dundee are copromoting next Saturday's lightweight bout between titleholder Roberto Duran and challenger Vilomar Fernandez in the Fountainebleau hotel. King was in D.C. for the Inauguration, but his P.R. man, Irving Rudd, said he might stage one of his tournament cards in Miami Beach now that it's open territory.

Chris Cline, the ringmaster of Hillcrest Heights, tell us that the Feb. 13 quarterfinal set in King's U.S. championship tournament. wherever, will feature unbeaten son Biff Cline in the light-heavy division vs. Ray (The Bull) Elson, whose only loss in 15 pro fights was to World Boxing Association champ Victor Galindez . . .

Los Angeles promoters are billing the World Boxing Council welterweight match at Olympic Auditorium tonight as the first world championship bout between two college graduates - Mando Muniz of L.A. State (now pursuing a master's) challenging Carlos Palmino, Long Beach State . . .

Redskinny-dipping: Diron Talbert came through the resection of his right shoulder joint, a one-hour operation by Dr. Stan Lavine, O.K. and is due out of Sibley Hospital today. He can shed the sling in time to begin rehabilitation in three-four weeks, should be ready for NFL '77 . . . While Billy Kilmer's away, Joe Theismann plays, and works. Kilmer, healthy at the end of a season for a change, moved out of his Vienna apartment in favor of good old New Orleans (will he be back?) leaving such spotlight to Theismann as autographing celebrity at the opening today of the nine-day rec. vehicle and outdoor show in D.C. Armory. Theismann and wife also are heeding up one of the Children's Hospital fund campaigns - their little daughter underwent successful open heart surgery there last year . . . If you're really nuts about Redskins, would like a look at Australia and New Zealand and have $1,599, how about this: Mike Bragg and Jerry Smith will be your escorts on a charter flight, July 23-July 8-August 8. "You'll really get to know these guys," promises Bob Rush of Beeson Travel. Will Bragg, sometime tennis pro at International Town & Country, Fairfax, test the Down Under style of play? Aussie rugby stars will greet the Yanks at a cocktail party . . .

A Stylish Postperson ran into (ouch) Sherman White, the 6-foot 5,260-at-least defensive end of the Buffalo Bills at an Inauguration party. Someone suggested he get with the Redskins - the last Buffalo defensive end to come here has done nicely, name of McDole. Replied White: "I'd love to, I'd love to. George Allen gives away all the money" . . .

North Texas State has declared its determination to win admission to the Southwest Conference (acknowledging it took Houston 10 years but hoping for a quicker timetable). But careful, NTSU Mean Green, the SWC is getting awfully tough, as witness the U. of Texas. In rapid succession, Texas has declared ineligible because of scholastic deficiency its SWC defending pole vault champion; UT's only decathlon man; the top forward (15.4 points, 8.4 rebounds) on the Longhorn basketball team, 6-7 Gary Goodner, and a frosh basketballer who made National Honor Society at Waxahachie High . . .

The color commentator on the Georgetown basketball Channel 5 casts with WTTG's Jim Karvellas, starting tonight, will be Bullet general manager Bob Ferry . . . While Heisman Johnny Rodgers joins the San Diego Chargers, his old Nebraska co-star, Outland Trophy lineman Rich Glover, has given up making it in the NFL after flopping with the Giants. Washington State, seriously into employing blacks as coaches, has hired Glover, defensive line coach in '76 at Dickerson High in Jersey City, for new head coach Warren Powers' football staff. Wash. State basketball coach George Raveling, the former Lefty Driesell righthand man, gets into the act when they ask about his soph center, James Donaldson, 7-foot-2 and growing: "He was born on June 6,7 and 8" . . .

Someone asked Chicago Cub lefty Darold Knowles, the onetime Senator who went on to make the World Series with the Oakland A's and Reggie Jackson what he thinks of Reg now. Said Knowles, "All the mustard in the world wouldn't cover Reggie jackson." Hot dog!