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| 2008-01-03 12:24:20 | Salt Lake City Night Hawks | LeRon Voss | Add/Drop | Lamond Farnsley | |
| 2008-01-03 12:16:24 | Salt Lake City Night Hawks | Andre Roller | Add/Drop | | |
| 2008-01-03 12:15:42 | Salt Lake City Night Hawks | Peter Cooke | Add/Drop | | |
| 2008-01-03 12:10:02 | Toronto Huskies | | Promoted | Kurt Phillips | Salt Lake City Night Hawks |
| 2008-01-03 11:43:10 | Portland Hipsters | | Demoted | Theodore Block | Montreal Ice Cats |
| 2008-01-03 10:53:48 | St. Louis 5th Alarm | | Drop | Rob Tipton | |
| 2008-01-03 10:53:04 | St. Louis 5th Alarm | | Drop | Hugo Winfield | |
| 2008-01-03 10:49:48 | St. Louis 5th Alarm | | Demoted | Robert Jones | Caracas Crocodiles |
| 2008-01-03 09:27:52 | Louisville Colonels | | Demoted | Curtis Knight | Buffalo Bombers |
| 2008-01-03 08:07:04 | Milwaukee Sundancers | | Demoted | Clinton Mitzel | Winnipeg Warriors |
| 2008-01-03 08:06:18 | Winnipeg Warriors | | Promoted | Elwin Schultz | Milwaukee Sundancers |
| 2008-01-03 08:05:26 | Winnipeg Warriors | | Promoted | Daniel Pharr | Milwaukee Sundancers |
| 2008-01-03 06:58:36 | Buenos Aires Eagles | | Promoted | William Jackson | Indianapolis Tornadoes |
| 2008-01-03 06:58:10 | Buenos Aires Eagles | | Promoted | Dana Dingle | Indianapolis Tornadoes |
| 2008-01-03 06:52:00 | New Orleans Hurricanes | Deon Cornett | Acquired via trade | 1st round pick in season 20 | Houston Octopods |
| 2008-01-03 06:50:00 | Portland Hipsters | 2nd round pick in season 19 | Acquired via trade | Hunter Stephans | Milwaukee Sundancers |
| 2008-01-03 06:50:00 | Portland Hipsters | Theodore Block | Acquired via trade | Fred Peterson | Milwaukee Sundancers |
| 2008-01-03 06:50:00 | Portland Hipsters | Herschel Glidewell | Acquired via trade | | Milwaukee Sundancers |
| 2008-01-03 06:50:00 | Portland Hipsters | 2nd round pick in season 20 | Acquired via trade | | Milwaukee Sundancers |
| 2008-01-03 06:48:00 | St. Louis 5th Alarm | Robert Jones | Acquired via trade | Micah Keys | Milwaukee Sundancers |
| 2008-01-03 06:46:00 | Houston Octopods | Pete Winburn | Acquired via trade | Jose Darby | New York Warriors |
| 2008-01-03 06:45:32 | Indianapolis Tornadoes | | Demoted | Austin Byrns | Buenos Aires Eagles |
| 2008-01-03 06:44:00 | San Francisco Golden Gators | 3rd round pick in season 20 | Acquired via trade | Donyell Schaftlein | Minneapolis Bricklayers |
| 2008-01-03 06:42:26 | Indianapolis Tornadoes | Austin Byrns | Add/Drop | | |
| 2008-01-03 06:42:00 | Indianapolis Tornadoes | Vincent Byers | Acquired via trade | 1st round pick in season 19 | Phoenix Kangaroos |