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| 2006-12-22 20:56:00 | Dallas Hounds | Norman Copeland | Acquired via trade | 2nd round pick in season 15 | Los Angeles Cacti |
| 2006-12-22 20:56:00 | Dallas Hounds | Travis Langley | Acquired via trade | | Los Angeles Cacti |
| 2006-12-22 20:54:00 | Seattle Cougars | 2nd round pick in season 17 | Acquired via trade | 2nd round pick in season 15 | New York Warriors |
| 2006-12-22 20:52:00 | Phoenix Kangaroos | 1st round pick in season 15 | Acquired via trade | Dammel Wreckage | Seattle Cougars |
| 2006-12-22 20:52:00 | Phoenix Kangaroos | 1st round pick in season 15 | Acquired via trade | Chase Salmon | Seattle Cougars |
| 2006-12-22 20:52:00 | Phoenix Kangaroos | 1st round pick in season 15 | Acquired via trade | 1st round pick in season 17 | Seattle Cougars |
| 2006-12-22 20:50:00 | Indianapolis Tornadoes | Geronimo Downey | Acquired via trade | 1st round pick in season 15 | Louisville Colonels |
| 2006-12-22 20:50:00 | Indianapolis Tornadoes | Marvin Dobson | Acquired via trade | | Louisville Colonels |
| 2006-12-22 20:48:00 | Louisville Colonels | 1st round pick in season 15 | Acquired via trade | Isaac Luke | St. Louis 5th Alarm |
| 2006-12-22 20:48:00 | Louisville Colonels | 2nd round pick in season 15 | Acquired via trade | Willis Emerson | St. Louis 5th Alarm |
| 2006-12-22 20:48:00 | Louisville Colonels | 2nd round pick in season 15 | Acquired via trade | | St. Louis 5th Alarm |
| 2006-12-22 20:46:00 | Kansas City Wildcats | Cameron Keller | Acquired via trade | 1st round pick in season 17 | Louisville Colonels |
| 2006-12-22 20:46:00 | Kansas City Wildcats | Teddy Graves | Acquired via trade | | Louisville Colonels |
| 2006-12-22 20:44:00 | New York Warriors | Dennis Mullen | Acquired via trade | Jeff Quiggins | Dallas Hounds |
| 2006-12-22 20:44:00 | New York Warriors | Terrell Morales | Acquired via trade | | Dallas Hounds |
| 2006-12-22 20:42:00 | Phoenix Kangaroos | LeRon Voss | Acquired via trade | Toby Quisenberry | Salt Lake City Night Hawks |
| 2006-12-22 20:42:00 | Phoenix Kangaroos | 1st round pick in season 15 | Acquired via trade | | Salt Lake City Night Hawks |
| 2006-12-22 20:42:00 | Phoenix Kangaroos | 1st round pick in season 17 | Acquired via trade | | Salt Lake City Night Hawks |
| 2006-12-22 20:40:00 | Phoenix Kangaroos | 1st round pick in season 15 | Acquired via trade | Ashley Wilder Jr. | Dallas Hounds |
| 2006-12-22 20:40:00 | Phoenix Kangaroos | 1st round pick in season 15 | Acquired via trade | | Dallas Hounds |
| 2006-11-16 17:00:00 | Louisville Colonels | Sal Vanover | Acquired via waivers | Lavon Sheridan | Waiver |
| 2006-11-15 06:39:34 | Atlanta Eels | Sherm Braun | Add/Drop | | |
| 2006-11-13 20:42:00 | San Diego Sabercats | | Drop | Lenny Ebel | |
| 2006-11-13 20:34:50 | San Diego Sabercats | | Drop | Dante Diamond | |
| 2006-11-13 06:12:04 | Louisville Colonels | | Drop | Sal Vanover | |