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| 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 | |
| 2008-02-15 15:42:56 | Pittsburgh Berserkers | | Promoted | Melvin Harris | Cleveland Weasels |
| 2008-02-15 13:35:54 | Philadelphia Assassins | | Demoted | Tyrone Hughes | South Dakota Blackhawks |
| 2008-02-15 13:26:22 | South Dakota Blackhawks | | Promoted | Terrance Hawkins | Philadelphia Assassins |
| 2008-02-13 23:06:10 | South Dakota Blackhawks | | Promoted | Tyrone Hughes | Philadelphia Assassins |