George Gervin has reached a happy agreement with the San Antonio Spurs. The Yankees have sold Ed Figueroa to the Texas Rangers. Other big names we have to tell you about today. But, somehow, the story of Scott Terry of Stafford County, Va., is the one that grabs us.

Terry, 15, idolizes Mark Moseley, the Redskin kicker. A jayvee on the Stafford High football team last fall, bent on bigger things as placekicker and defensive end this year, Scott saved $240 from his Washington Post delivery route and made his way to Moseley's instructional camp in Maryland one recent week. He had the time of his life -- got to put on Moseley's famous kicking shoe, won his hero's appraisal as a good prospect after making a couple of field goals in a camp game -- and set his sights onward and upward.

Two days later, riding his moped near home, Scott was struck by a car. He suffered head injuries that for a while had him lapsing in and out of consciousness -- and his kicking leg was broken in eight places.

Young Terry is improving at the Medical Center of Virginia in Richmond, according to reader Dennis Springer, who read the story about his Post carrier in Saturday's Fredericksburg Free Lance-Star and says he thought Moseley ought to know, if he doesn't already.

While the youngster is expected to recover, doctors doubt his leg will be strong enough to fullfill his dream of kicking in the NFL. But don't count him out . . .

Gervin and Spurs broke their stalemate over contract renegotiation dating to last midseason, with the NBA scoring champ and Angelo Drossos, Spur president, appearing together at a San Antonio news conference to announce the new deal. Terms and length of the settlement remain secret, but the Iceman gets a "substantial increase" -- and a bonus package that would further compensate Gervin for each Spur victory above 35 in any season. All told, Gervin is believed to be assured annual pay somewhere between $650,000, Drossos' previously reported "final" offer, and $1 million.

Drossos added that the Spurs are doing away with recognizing players for individual merit in favor of rewarding each team member with bonuses for each game won from 35 to 56 victories, and their new coach, Stan Albeck, says,"I think it'll start a trend. It's a nice arrangement. You know the guys are going to play hard every night" . . .

Figueroa, the moody right-hander on whom the Yankees gave up last week, is to report to the Rangers in time for their home game against Baltimore tonight. "He will be a starter," said Eddie Robinson, Texas executive v.p. "We wanted him to start (tonight) but it doesn't look like that's possible."

And the Rangers sent their biggest winner (17 games) of 1979 to Class AA Tulsa to seek his lost groove. He's Steve Comer, 2-4 with an 8.22 ERA in 11 starts this year . . .

Greg Luzinski evidently will play some for the Philadelphia Phillies yet this season. Exploratory surgery on the slugging Bull's right knee, injured July 5, turned into removal of cartilage fragments yesterday, but nothing worse. They're hoping he can play after three more weeks . . . Ticky Burden, the former N.Y. Knick guard charged with a July 3 bank robbery on Long Island, has been indicated by a Nassau County grand jury, with bond continued at $25,000, next court date Aug. 28. Burden is one of four men accused of a $23,000 hiest . . .

It's a little tripleheader, Saturday night's closed-circuit show (in Washington, at Warner Theatre), 8:30 p.m., reserved seats Pipino Cuevas-Thomas Hearns, WBA welter weight crown; Hilmer Kenty-Yong Oh Ho, lightweights; Sammy Serrano-Yatsutsune Uehara, junior lightweights. Plus Ernie Shavers versus Randy (Tex) Cobb.