An exhibition game of arena football that was to be played at Capital Centre in July may be rescheduled for Detroit unless a new area investor can be found.

Arena football is an eight-man, single-platoon version of the traditional sport played indoors on a 50-yard field. Inventor Jim Foster, who has been trying to set up an exhibition game of his sport at Capital Centre, said that a possible Washington investor had asked for too much and that he was looking for other funding sources. Foster said a group in Detroit was "very interested" in hosting the game, which Foster expects to be a prelude to an arena football league starting next May.

Foster had offered the Washington investor, whom he declined to name, a team in the league in exchange for the $250,000 it would cost to stage the exhibition. "He wanted much more than that," Foster said. "But I still fully expect to play a summer game in Washington."

However, Barry Silberman, the vice president for arena administration for Capital Centre, said he doubted that the game would be played here this summer. "We've been trying to identify some other possible investors," Silberman said, "but I don't think there is enough time" . . .

The Honolulu jury in Washington Redskins draftee Walter Murray's bribery trial recessed yesterday without reaching a verdict. The jury is due back to continue its deliberations this morning. Murray has been charged with attempting to bribe a police officer with football tickets in exchange for dismissing a traffic citation . . .

Former Colts quarterback Art Schlichter has agreed to a free-agent contract with the Buffalo Bills.

General Manager Bill Polian said the signing will become official if the NFL approves. The league suspended Schlichter in 1983 for gambling. "There are some details that need to be ironed out and they're in the process of being ironed out," Polian told The Buffalo News. "But the contract is agreed to."

No terms were announced. Schlichter is expected to report to the Bills' training camp in July.