Vince Ferragamo is back with the Rams, on a three-year contract announced yesterday, and the Los Angeles area wonders if even Georgia Frontiere's franchise can--or will--carry the salaries of both Ferragamo and Bert Jones.

Jones' advent from the Colts, and Pat Haden's retirement, supposedly made perennial Ram instability at quarterback passe'. But here are Ferragamo, 1979 NFL playoff hero, never mind his 1981 Canadian nightmare, set to earn a rumored $350,000 a year; Jones even more--and speculation that one's got to go.

No, says Ram executive Jack Faulkner, Ferragamo wasn't rehired just to be traded right off. "He's definitely going to be at training camp, starting July 19. As far as the exhibition season is concerned, I think it would behoove everyone to take a good look at Vince Ferragamo, to see what he still can do" . . .

Homecoming, college style: Joe Kraus, former Seneca Valley all-stater, swift and awfully strong for 5-10, 175 (score one for Dan Riley, strength coach now with the Redskins), at Penn State this spring made starting cornerback for '82 (his junior year)--but celebrated a bit overly and a day later went from No. 1 to out, out, out. Later, Joe Paterno supposedly had second thoughts--too late. Kraus will enroll at Maryland, eligible for '83 and '84; Terrapins won't turn away repentant would-be Penn State first-stringers . . . Coach Bobby Ross' staff had brief signals that another Nittany Lion might turn Turtle, when 6-2, 210-pound tailback Skeeter Nichols of Cambridge, Md., was feeling low. No more. Nichols completed a great spring by being named outstanding player of State's Blue-White game.

Lefty Driesell has taken on a big--as in 7-foot-3--project for Maryland basketball: Greg Stevens of Stow, Ohio, a Driesell summer camper who decided to attend the university. Highly unpolished, not much high school player, but given time, who knows? Driesell lately lost one in front court--Andre Hines, 6-9 transfer from Furman, a dropout already . . .

Thanksgiving college football, Gobbler--and Cavalier--style could be back. For telecast over cable superstation WTBS, Virginia Tech and Virginia may move Nov. 27 date in Blacksburg to Nov. 25 holiday night . . . Hitch could be a suit just filed against NCAA by ABC network and Atlanta-based Cox Broadcasting. They contend 14 games allocated Ted Turner's WTBS violates ABC and CBS' exclusive live rights to 1982-85 college football . . .

Tsk. Joe Charboneau, 1980 AL rookie of year for Cleveland, down from AAA Charleston to AA Chattanooga by own request--and, first game for Manager Dirty Al Gallagher, a sliding Joltin' Joe pulled tendons, left hand; out maybe 10 days . . . Tsk, tsk. Atlanta outfielder Terry Harper to 15-day DL--hurt arm waving a teammate around bases as Braves beat St. Louis . . . Quick fixes: Forget that picture caption, Frank Howard doesn't plan to play Cracker Jack Classic here (but what a moment when Roy Campanella wheels out for a bow!). Initially unlisted NL All-Star pitcher: Steve Howe.

That fortyish fellow caddying, full-time, on PGA Tour for J.C. Snead? Why, it's Georgia Tech's 1974-81 basketball coach, Dwane Morrison! Morrison had a year left on contract when replaced but picked up his last check this spring.

And Snead says Morrison "certainly is not making any money caddying for me (although) I pay a percentage . . . if I make $200,000-$300,000, he'd probably make more than he did coaching." At midseason, Snead's winnings total $74,226.

Morrison: "It's enjoyable. You get to meet so many different people. I've always wanted to do this."

Snead: "I think it's peculiar, but after you get to know him . . . Well, I haven't figured it out myself, to be honest with you. It's kind of like the millionaire who goes down to Skid Row and hangs around to see what's going on." . . .

Funny world, all right. Atlantic Coast Hockey League has a new appointee, the NHL's Mr. Penalty: Dave Schultz, commissioner!