BASEBALL (AL) * New York Yankees -- Announced the resignation of Robert Nederlander (managing general partner) effective Dec 31.
* Texas Rangers -- Extended the contract of Bobby Valentine (manager), Tom Grieve (general manager) and Sandy Johnson (assistant general manager) through the 1993 season. Signed Tom Drees (pitcher) to a contract with Oklahoma of the American Association.
BASKETBALL (NBA) * Charlotte Hornets -- Signed Kevin Lynch (guard-forward).
* Los Angeles Lakers -- Signed Chucky Brown (forward).
* Minnesota Timberwolves -- Placed Felton Spencer (center) on the injured list.