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| 2008-02-15 19:51:12 | Dallas Hounds | | Demoted | Gerald Hess | Norfolk Wolves |
| 2008-02-15 19:32:22 | Dallas Hounds | | Drop | Curtis Knight | |
| 2008-02-15 18:26:06 | Chicago Hilltoppers | | Demoted | Virgil Weakley | Clarksville River Bandits |
| 2008-02-15 18:23:26 | Clarksville River Bandits | | Promoted | Benny Ward | Chicago Hilltoppers |
| 2008-02-15 18:22:50 | Chicago Hilltoppers | | Drop | Austin Scanlon | |
| 2008-02-15 18:12:00 | Memphis Express | Terrell Morales | Acquired via trade | 2nd round pick in season 20 | New York Warriors |
| 2008-02-15 18:10:00 | Houston Octopods | Isiah Trevino | Acquired via trade | 1st round pick in season 20 | Cleveland Weasels |
| 2008-02-15 18:10:00 | Houston Octopods | 2nd round pick in season 20 | Acquired via trade | J.J. Cross | Cleveland Weasels |
| 2008-02-15 18:10:00 | Houston Octopods | Orlando Best | Acquired via trade | | Cleveland Weasels |
| 2008-02-15 18:08:00 | Las Vegas Dark Knights | Fred Perez | Acquired via trade | Darwin Choi | Philadelphia Assassins |
| 2008-02-15 18:08:00 | Las Vegas Dark Knights | Elton Fox | Acquired via trade | | Philadelphia Assassins |
| 2008-02-15 18:08:00 | Las Vegas Dark Knights | 2nd round pick in season 20 | Acquired via trade | | Philadelphia Assassins |
| 2008-02-15 18:06:00 | Cleveland Weasels | David Cunningham | Acquired via trade | Shane Meek | Philadelphia Assassins |
| 2008-02-15 18:06:00 | Cleveland Weasels | Terence Anderson | Acquired via trade | Willie Harper | Philadelphia Assassins |
| 2008-02-15 18:06:00 | Cleveland Weasels | 1st round pick in season 20 | Acquired via trade | | Philadelphia Assassins |
| 2008-02-15 18:04:00 | Phoenix Kangaroos | 1st round pick in season 19 | Acquired via trade | Alvin Garcia | Philadelphia Assassins |
| 2008-02-15 18:04:00 | Phoenix Kangaroos | 1st round pick in season 21 | Acquired via trade | | Philadelphia Assassins |
| 2008-02-15 18:04:00 | Phoenix Kangaroos | Curtis Deal | Acquired via trade | | Philadelphia Assassins |
| 2008-02-15 18:02:00 | Dallas Hounds | 1st round pick in season 19 | Acquired via trade | Gilbert Rice | Phoenix Kangaroos |
| 2008-02-15 18:02:00 | Dallas Hounds | 1st round pick in season 20 | Acquired via trade | | Phoenix Kangaroos |
| 2008-02-15 18:00:00 | Dallas Hounds | Bill Sewell | Acquired via trade | Ashley Wilder Jr. | New York Warriors |
| 2008-02-15 18:00:00 | Dallas Hounds | Jose Darby | Acquired via trade | 3rd round pick in season 20 | New York Warriors |
| 2008-02-15 18:00:00 | Dallas Hounds | Rodney Keo | Acquired via trade | | New York Warriors |
| 2008-02-15 18:00:00 | Dallas Hounds | Doug Duncanson | Acquired via trade | | New York Warriors |
| 2008-02-15 16:46:42 | Memphis Express | | Drop | Keith Patrick | |