Philadelphia Phillies -- Signed OF Glenn Wilson for three years plus one-year option, averting arbitration. Before settling, the club offered $425,000 for 1986; Wilson sought $715,000, triple his 1985 pay. Cleveland Indians -- Won salary dispute with SS Julio Franco, arbiter awarding him club's offer of $575,000, rather than his $740,000 demand, for 1986. Chicago White Sox -- Signed RHPs Bob James (asked $695,000; offered $465,000) and Gene Nelson, averting arbitration. New York Mets -- Signed RHP Dwight Gooden to $1.32 million 1986 contract he agreed to last week. New York Yankees -- Signed IF Andre Robertson, averting arbitration. HORSE RACING
Gulfstream Park -- Ensign Rhythm ($17.80) and My Prince Charming ($18.60) won divisions of the $75,000 Fountain of Youth Stakes, an important 3-year-old prep at 1 1/16 miles. Highly regarded Mogambo ($2.40) made his 3-year-old debut earlier on the card and won a seven-furlong race. BASKETBALL
Houston Rockets -- Put C Akeem Olajuwon, right knee strain, on injured list (five-game minimum); signed F Hank McDowell for 10 days. NBA Player of Week -- Larry Bird, Boston. FOOTBALL
Green Bay Packers -- Named John Hilton, a former Redskins and Bears staffer, to coach offensive backs and special teams. JURISPRUDENCE
Placerville, Calif. -- Ferris Fain, 64, AL batting champion in 1951 and 1952, convicted of cultivating marijuana at his Georgetown, Calif., home. Sentencing due in March. COLLEGES
Howard -- G Fred Hill is MEAC basketball player of the week, Darlene Beale shares MEAC women's honors. Marshall -- Sophomore G Skip Henderson, basketball team's leading scorer, said he is quitting the squad; he gave no reason.