BASEBALL Cincinnati Reds -- Hired Branch Rickey, 42, grandson of Hall of Fame baseball executive Branch Rickey Sr., as director of minor league operations.

FOOTBALL Chicago Bears -- Veteran S Gary Fencik said he will retire from pro football after this season, his 12th in the NFL.Houston Oilers -- Unsigned OT Bruce Matthews filed a $10 million antitrust suit in Los Angeles against the NFL, claiming compensation rules regarding free agents are not valid with the expiration of the league's collective bargaining agreement. Indianapolis Colts -- Have received a contract proposal from No. 1 draft choice LB Cornelius Bennett of Alabama. Published reports indicated his latest proposal calls for a $4 million deal extending through 1991.

HOCKEY NHL -- Handed New Jersey Devils D Jack O'Callahan a three-game suspension as a result of a match penalty incurred in a game against Pittsburgh Oct. 21.

BASKETBALL Phoenix Suns -- obtained F/C James Bailey from Cleveland for a future draft pick. Los Angeles Clippers -- Signed GM Elgin Baylor to a multiyear contract.

COLLEGES Princeton -- Named Steven P. Tosches football coach to replace Ron Rogerson, who died in early August.

MEDIA WDCA-TV-20 -- Hired ex-Bullet Phil Chenier as analyst, joining play-by-play broadcaster Mel Proctor on Washington Bullets telecasts.