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| 2009-05-15 16:30:06 | Buenos Aires Eagles | | Promoted | Scotty Maxwell | Indianapolis Tornadoes |
| 2009-05-15 16:29:52 | Buenos Aires Eagles | | Promoted | Mike Gansey | Indianapolis Tornadoes |
| 2009-05-15 16:29:24 | Indianapolis Tornadoes | | Demoted | Kim Flores | Buenos Aires Eagles |
| 2009-05-15 16:23:30 | Indianapolis Tornadoes | | Drop | Ron Engonett | |
| 2009-05-15 16:21:46 | Indianapolis Tornadoes | | Demoted | Hubie Wisdom | Buenos Aires Eagles |
| 2009-05-15 16:21:18 | Indianapolis Tornadoes | | Demoted | Mike Gansey | Buenos Aires Eagles |
| 2009-05-15 16:21:04 | Buenos Aires Eagles | | Promoted | Jared Houde | Indianapolis Tornadoes |
| 2009-05-15 16:20:42 | Buenos Aires Eagles | | Promoted | Kim Flores | Indianapolis Tornadoes |
| 2009-05-15 16:20:24 | Buenos Aires Eagles | | Promoted | Dick Nye | Indianapolis Tornadoes |
| 2009-05-15 16:14:40 | Salt Lake City Night Hawks | John Amaechi | Add/Drop | | |
| 2009-05-15 16:09:04 | Salt Lake City Night Hawks | | Demoted | Erin Brothers | Toronto Huskies |
| 2009-05-15 16:08:54 | Salt Lake City Night Hawks | | Demoted | Andrew Satterfield | Toronto Huskies |
| 2009-05-14 18:44:00 | Indianapolis Tornadoes | Walter Henderson | Acquired via trade | Ronald Russell | Dallas Hounds |
| 2009-05-14 18:44:00 | Indianapolis Tornadoes | Jared Houde | Acquired via trade | | Dallas Hounds |
| 2009-05-14 18:42:00 | Indianapolis Tornadoes | 1st round pick in season 24 | Acquired via trade | Lee Crenshaw | St. Louis 5th Alarm |
| 2009-05-14 18:42:00 | Indianapolis Tornadoes | Dick Nye | Acquired via trade | | St. Louis 5th Alarm |
| 2009-05-14 18:40:00 | Indianapolis Tornadoes | 1st round pick in season 23 | Acquired via trade | Charlie Harms | Salt Lake City Night Hawks |
| 2009-05-14 18:40:00 | Indianapolis Tornadoes | Mike Gansey | Acquired via trade | | Salt Lake City Night Hawks |
| 2009-05-14 13:57:22 | Pittsburgh Berserkers | | Promoted | Ryan Cline | Cleveland Weasels |
| 2009-05-12 01:27:32 | Miami Macho Men | Francis Brown | Add/Drop | Theodore Block | |
| 2009-05-12 00:46:52 | Miami Macho Men | Aime Morehead | Add/Drop | Rob Tipton | |
| 2009-05-11 11:35:58 | Houston Octopods | | Drop | Jim Harrison | |
| 2009-05-11 11:34:48 | Houston Octopods | | Drop | Gill Jim | |
| 2009-05-10 18:40:00 | Chicago Hilltoppers | Jarred Compton | Acquired via waivers | Rafael Baxter | Waiver |
| 2009-05-10 18:40:00 | Chicago Hilltoppers | Elliott Guerra | Acquired via waivers | Galen Purdy | Waiver |