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| 2006-05-05 05:30:16 | St. Louis 5th Alarm | | Drop | Randy OHara | |
| 2006-05-05 05:28:20 | St. Louis 5th Alarm | | Drop | Mario Drennan | |
| 2006-05-05 05:27:08 | St. Louis 5th Alarm | | Drop | Sam Raveling | |
| 2006-05-05 05:23:10 | Orlando Bombers | | Drop | Dave Weldon | |
| 2006-05-05 05:20:22 | Orlando Bombers | | Drop | Benjamin Keller | |
| 2006-05-05 03:50:34 | Louisville Colonels | | Drop | Geronimo Goetz | |
| 2006-05-05 02:45:50 | Boston Bannerman | Gabriel Howard | Add/Drop | Harley Hutchinson | |
| 2006-05-05 02:45:48 | Philadelphia Assassins | Michael Loyd | Add/Drop | Dakota Collins | |
| 2006-05-05 02:31:34 | Boston Bannerman | Al Culver | Add/Drop | | |
| 2006-05-05 01:56:16 | Dallas Hounds | | Drop | Akili Wantland | |
| 2006-05-05 01:55:50 | Dallas Hounds | | Drop | Tracy Reis | |
| 2006-05-04 20:51:52 | Las Vegas Dark Knights | | Drop | Marcane Shalmont | |
| 2006-05-04 19:00:00 | San Francisco Golden Gators | 3rd round pick in season 15 | Acquired via trade | Robert Seals | Kansas City Wildcats |
| 2006-05-04 17:27:16 | Boston Bannerman | | Drop | Dejuan Griffey | |
| 2006-05-04 17:26:22 | Boston Bannerman | | Drop | Jamison Boston | |
| 2006-05-04 16:40:00 | New York Warriors | Barrett Lee | Acquired via waivers | | Waiver |
| 2006-05-04 16:40:00 | Charlotte Rangers | Milo Downes | Acquired via waivers | | Waiver |
| 2006-05-04 14:00:00 | St. Louis 5th Alarm | Isaiah Perdue | Acquired via trade | 1st round pick in season 14 | San Francisco Golden Gators |
| 2006-05-04 14:00:00 | St. Louis 5th Alarm | Perry Moser | Acquired via trade | 3rd round pick in season 14 | San Francisco Golden Gators |
| 2006-05-04 14:00:00 | St. Louis 5th Alarm | James Trice | Acquired via trade | 3rd round pick in season 14 | San Francisco Golden Gators |
| 2006-05-04 14:00:00 | St. Louis 5th Alarm | Deon Cornett | Acquired via trade | 3rd round pick in season 15 | San Francisco Golden Gators |
| 2006-05-04 14:00:00 | St. Louis 5th Alarm | Dalton Tomes | Acquired via trade | | San Francisco Golden Gators |
| 2006-05-04 12:41:04 | New Orleans Hurricanes | | Drop | Linus Ingle | |
| 2006-05-04 12:36:24 | New Orleans Hurricanes | | Drop | Tyron Penick | |
| 2006-05-04 11:12:16 | San Francisco Golden Gators | | Drop | Trent Maher | |