Reggie Jackson evidently is stuck with Billy Martin, and vice versa, for a while.

"I'm not trading Reggie Jackson," said New York Yankee President Al Rosen, "unless I can get a Reggie Jackson in return."

The prescribed period of test-the-water waivers on which baseball's struggling world champions put Mr. October last week expired yesterday. Jackson had been "claimed by more than one club and was withdrawn from waivers," the Yankees announced.

The Texas Rangers admitted discussing a possible waiver trade (June 15 trading deadline? Ha!) for the Candy Bar Kid.

"But never," Ranger Manager Pat Corrales said, "to the point of saying we will give so-and-so or so-and-so for him. Al Oliver's name was mentioned and that's when we said we didn't want to talk about it anymore."

So much for Jackson's plaint to owner George Steinbrenner that he could not again play for Martin, the returning manager whose 1978 exit had been greased by hassles with Reggie.

"I can forgive," said Jackson, "but I can't forget."

Hold onto your hats. Starting yesterday (see opposite page) . . .

Megaplex! Marylanders Don Bornheim, Steve Kendall, Charles Roberts and Dominic Colandrea rear a new bugaboo at Baltimore: a proposal for an arena-stadium complex on a 500 acre tract near I-95, U.S. 1 and Maryland Rte. 175 near Columbia in Howard County. "It's unique, believe me," Bornheim said of the plan to be unveiled at a news conference today, with designs on luring both Orioles and Colts as tenants. . . .

Jim Lonborg, the erstwhile Cy Young Award winner lately let go by the Phillies, returned home to Scituate, Mass., where it appears the only club to call on him is the Scituate White Sox of the South Shore Coast League. The amateur aggregation looks to Lonnie to turn around its 2-15 season . . . Tom Meschery, the former NBA player of poetic bent, is selling his business to become coach of the Reno Bighorns of the United Basketball Association. Meschery is giving up the Truckee Book & Tea Co. (bagels, too) in Truckee, Calif., near Reno - where he might be advised not to invite Billy Martin for a return publicity visit . . .

Four years from now, will the NBA zero in on Kurt Kaull? He is Georgetown's newest basketball recruit, a 6-3, 185-pound point guard guard from Warrenville High near Wheaton, Ill. Kaull averaged 18.5 points a game last year; was all-conference in football and baseball too, won his erea's Red Grange Award for academic and athletic achievement, and Hoya Coach John Thompson endorses, "He's not afraid to accept the challenge of playing in a competitive program."

Oh, unfinished Yankee Business. Jackson, on the disabled list since June 2 with a torn tendon in his left leg, took about 20 minutes batting practice yesterday, reporting some improvement; doing some of the throwing to him was Rich Gossage, disabled since mid-April and not expected back until after the July 17 All-Star Game.

That's full-salaried Goose Gossage. The big reliever disclosed yesterday that the club had dropped its attempt to fine him 10 days pay (about $18,000) for the clubhouse cutup with Cliff Johnson that put the Goose into his misery with torn thumb ligaments. Rosen relented, Gossage said, after a recent visit from Gossage and agent Jerry Kapstein. CAPTION: Picture, Redskin quarterback Joe Theismann and Rep. Thomas P. (Tip) O'Neill Jr. (D-Mass.) relax during Lombardi golf and tennis tournament at Indian Spring Country Club. By James A. Parcell - The Washington Post